Manz and unnamed cooperation partners to form R&D company for CIGSfab

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The CIGS line, located in Germany’s south, is the prototype for the Manz CIGSfab that it is still hoping to sell.

Despite years of perseverance, German equipment supplier Manz, has not been able to sell one of its CIGSfabs. It will now spin off an R&D company to operate the CIGS facility, The new company, formed in partnership between Manz and unnamed third parties, will cover the costs stemming from keeping the CIGS facility running.

Manz would not provide the name nor location of Manz’s cooperation partner to pv magazine. Nor would it be drawn as to whether it Shanghai Electric. The Chinese electrical giant entered into an agreement with Manz in February to take a 29.9% stake in the Germany company.

Under the agreement, Manz advised that Shanghai Electric intends to purchase a CIGSfab, although there have been no further developments on this front communicated.

Any sales of a CIGSfab are subject to this most recent deal to form the new company.

As a result of the deal, Manz advises that no purchase orders for a CIGSfab will be recongized by the company in 2016. This will result in earnings coming in at 2015 levels, although earnings before interest and taxes will represent an improvement.

The deal still requires approval from the boards of the cooperation partners. It is expected to be signed before the end of the year.