News Article
Taiwanese JV points to consolidating industry
Taiwanese based Tatung Group/GET and Gintech have announced a strategy cooperation in solar module and solar wafer businesses. Tatung Group with GET and Gintech will establish a module company "Gintung Energy Corporation." GET will further manage wafer production of Utech Solar, the wafer subsidiary of Gintech.
"GET high-level wafer is the solid support of Gintech high efficient cell," said Wen-Whe Pan, President of Gintech. "GET is the top 3 multi-crystalline wafer makers in the world. Its latest high-end Victoria series wafers are highly admired in industry. GET capacity reached 2GW with superior R&D and cost management team. GET is just the partner Gintech is looking for. "
"GET and Gintech have been supply-chain partners for many years," said S. Y. Lin, President of GET. "Gintech is one of the top 10 global solar cell companies, with 1.8GW capacity. Its new Diamond series cells demonstrate the breakthrough of high-efficient cell making. Gintech is a good partner with outstanding technology and cost structure. "
Along with the partnership, GET module subsidiary "ASEC" will be transferred and renamed as part of "Gintung Energy Corporation." Tatung Group and Gintech will become the largest two shareholders of Gintung. Tatung Group will hold Gintung by 45%, and Gintech will hold Gintung by 36%. The module capacity plan of Gintung is to reach 320MW in 4Q14, from current 170MW. Further expansion will depend on global demands from different areas, with target to increase market share. The renamed plan will be effective after officially approved by ASEC AGM and the Authorities.
High-efficient wafer is in shortage now while Utech, the wafer subsidiary of Gintech, has wafer capacity reached 450MW. With the strategy cooperation, GET will increase high-efficient wafer capacity and decrease manufacturing cost, by joint management into manufacturing and material procurement of Utech.
