Silver Age, a British Virgin Islands company, owns 100 percent of Solar Silicon Valley Electronic Science and Technology Co., Ltd., which is a China-based solar wafer manufacturer. It is, in turn, 70 percent owned by Jinglong Group, a company controlled by JA Solar's chairman, Baofang Jin.
According to a statement released, the move will boost JA Solars wafer capacity by 485 megawatts (MW), thus taking the companys total capacity to around 785 MW.
In addition to wafer manufacturing, Silicon Solar Valley – located in Chinas Yanjiao Economic & Technology Development Zone in Langfang City, Hebei Province – also produces quartz crucibles.
"This agreement represents another important step in JA Solar's strategy of optimizing our cost structure through selective vertical integration," Fang Peng, CEO of JA Solar, commented. "By boosting JA Solar's internal wafer capacity through this acquisition, we expect to achieve greater economies of scale and improve the company's profitability."
The acquisition is subject to customary closing conditions and Chinese regulatory approvals, and is expected to close in the third quarter of 2011.
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