AVANCIS sells the solar business to Chinese building materials group
AVANCIS GmbH, a manufacturer of CIS solar modules, has announced that it is carving-out its business activity to sell it to the Chinese building materials and glass manufacturer CNBM (China National Building Materials Group Corporation).
The new owner plans to restart production in Torgau under the same company name "AVANCIS GmbH". The transaction will close following the registration of the new company at the commercial court and the granting of the necessary approvals. CNBM is planning to expand its solar module development and production.
The further development of the AVANCIS technology is an essential prerequisite for the implementation of CNBM's expansion plans in the area of photovoltaic energy generation in Asia and Europe. The Chinese investor is intending, therefore, to continue to operate the Tech Center in Torgau as well as the laboratory in Munich as research and development facilities and also, if possible, to restart operations of Fab 2 in Torgau.
"I am delighted that with CNBM International Corporation we have found a strong investor who will help us to further advance our CIS technology with its promising future", explained Dr. Franz Karg (CTO). "Together with the recently achieved new efficiency world record for encapsulated thin-film modules, this is another important milestone for the successful growth of our company. "
All 240 employees will be given the opportunity to be taken over by the new company. In this connection, the terms of employment with all the rights and obligations existing at the time of the transfer of business will be taken over by the new owner.
The AVANCIS product warranties will remain unchanged and the new company will be the contact for previous and new customers.
