Taiwanese cell manufacturer Motech Industries has agreed to sell its 44,657.84m2 facility in Tainan City, in Taiwan’s Anding District, to Wistron NeWeb Corporation, a Taiwanese manufacturer of wireless communication products.
“The transaction price was … approved by the board of directors based on the appraisal report by Evermore Valuation Firm,” said Motech, in a filing with the Taiwan Stock Exchange.
The company said the value of the transaction is estimated at around TWD980 million ($31.7m).
The cash injection will probably be used by the company to implement its production allocation plan, which has so far seen the lay-off of 300 foreign production workers in mid-September, and to a further workforce reduction of 2% a week later.
Popular content
“Under [a] rapidly changed and uncertain market situation, Motech has to move forward, making the adjustments, and some painful decisions,” said Motech at the time.
The manufacturer had announced plans to scale back capacity in late August, when it said it would shut its production line in Suzhou, China, due to “environmental” issues, and in response to “industry market needs”.
According to its Q1 2018 financial report, released in May, Motech has a cell production capacity of 3.6 GW, 1.7 GW of which is in China.
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.
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.