At the start of March, Oerlikon unveiled its intentions to sell its thin film photovoltaic operations to Tokyo Electron on the back of "extremely challenging" market conditions and a lack of consumer investment.
Chinas Ministry of Commerce (MOFCOM) has now approved the sale, meaning all regulatory requirements have now been fulfilled. As such, the two parties are now ready to finalize the deal. "Oerlikon thanks the German and Chinese authorities for their professional handling of the merger control assessment," said the company in a statement released.
Oerlikon Solar produces equipment and turnkey manufacturing lines for the manufacture of thin film silicon photovoltaic modules. Despite successes in new production line launches and cost cutting measures, the company suffered significant losses due to large overcapacities and reduced demand.
Popular content
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
Share
Becky Beetz
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.