Motech to merge with Topcell forming 3 GW cell giant

The trend towards consolidation among solar PV manufacturers is continuing, with the latest development seeing Taiwanese cell producer Motech emerge as a 3 GW giant. In a statement announcing the deal, Motech says the merger will lead to: “better operational efficiency, enhance its invention technology, as well as improve product quality and variety for customers.”

Motech claims the 3 GW of solar cell production capacity will make it the “world’s largest professional manufacturer of photovoltaic cells.”

The Motech TSi merger will occur through a share swap deal, in which 6 TSi commons stock shares are exchanged for each Motech newly issued share.

United Microelectronics Corporation has a 92% stake in TSi and will become the second largest single shareholder in Motech, with around 9%, on the completion of the deal.

“Both companies agree that industry integration is the future trend in the solar market; thus, the cooperation between TSi and Motech is an important milestone of development in solar industry,” the statement announcing the merger reads. Motech will have enhanced economies of scale and strengthened position in terms of global competitiveness a result of the merger, the company claims.

Regulatory and shareholder approvals are required for the deal to go ahead as planned.