News Article
SunLink PV, Makes Agreement With Chinese State Owned IRI CO Group Electronics Company Limited
Deal worth USD 11 million to buy 21% of SunLink
SunLink PV, has come the agreement with Chinese state owned IRI CO Group Electronics Company Limited who will buy 21% stake of SunL ink PV, in an attempt to strengthen its position in the upstream and downstream of solar industry. Meanwhile, SunLink PV will keep the original managing team, marketing and sales strategies.
The deal, which values 21% of SunLink PV at RMB 73.5m (USD 11.4m), makes IRICO Group as the biggest stakeholder, and gives it an established, respected brand and a distribution network of solar module and solar system integration word widely, especially in Europe and North America.
SunLink PV, with 300MW solar module and 150MW solar cell production capacity, is one of the earliest solar module brand in China, the third TUV certified and the second Chinese solar brand entering into European market. SunLink PV has been carrying out the globalized marketing and sales strategy. After over seven years of hard efforts, it's becoming more and more internationalized. The products and solutions have been deployed in over 20
countries and regions. It established our offices of distribution net works in Germany, Italy, Australia, North America, with which SunLink PV can get closer with customers, listen to them and react quickly for their needs.
IRICO Group Electronics, the largest CPT manufacturer in China, is one of the Top-100 electronics companies and the leading designer and manufacturer of CPT and CPT component in the world. The CPT is the core component of a CRT (Cathode Ray Tube) television. IRICO is also one of the largest high transmission tempered glass maker in the world. IRICO's capital power and R&D strength on sola glass will help SunLink PV to
go upstream to guarantee our long term raw materials supply. It will allow us to enhance SunLink PV's distribution net-work in Europe and North America. Besides, with IRICO's government background, SunLink PV is confident to take China's domestic market.
In the vision of continuously dramatic growth of global solar PV market, SunLink PV will keep expending the production capacity of solar module to be 2GW, 600MW solar cell, 200MW wafer, turnover USD 3 billion by 2015.
