The news comes after the company announced it has entered into a memorandum of understanding with the management committee of Jiuhua demonstration zone in Xiangtan, Hunan Province. Under the agreement, the company will acquire 250,000 square meters of land, according to Chinese stock information. It was also said the total consideration for the acquisition is worth around RMB32 million (USD$4.7 million; 3.8 million). The transaction, continued Chinese stock information, is expected to be completed in the third quarter of 2010.?
The company has said the industrial park will be used to expand its production capacity, especially for the rapid increase in overseas business. It will focus on clean technology projects, such as BIPV production and BIPV integrated thermal systems.
A ceremony was held on June 17 to mark the occasion.