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Komax: Part of solar business sold off
Yesterday Komax and its Chinese partner Yingkou Jinchen signed an agreement under which Yingkou Jinchen will acquire Komax's 51% holding in their joint-venture company Komax Jinchen.
Komax announced its intention of selling its solar business in August 2013. The sale of Komax's holding in Komax Jinchen marks the completion of the first step. The transaction is still subject to approval by the appropriate Chinese authorities.
Komax and Yingkou Jinchen set up Komax Jinchen in 2011 with the aim of providing the Chinese market with locally produced laminators.
