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Electronics Production |
Gintech, Solartech and NSP to become one
Three Taiwanese solar cell manufacturers – Gintech Energy Corporation, Solartech Energy Corp. and Neo Solar Power Corp. – have singed a merger agreement, creating a solar flagship company.
After signing off the merger agreement, the companies will hold extraordinary general meetings on March 28, 2018 to pass the resolution of this proposed merger. Following this, the companies will seek to acquire approvals from the authorities and execute the relevant merger procedures.
Once everything is in order, the surviving company will be renamed United Renewable Energy Co. Ltd. (UREC).
The three companies have been involved in different production segments of the silicon wafer, solar cell, solar module, power grid, and other solar energy supply chains more than 10 years. Confronting the competitive and increasingly concentrated market, the companies believe that the Taiwan-based manufacturers should cooperate to form a solar flagship company with a competitive edge on the global market. The belief is that the proposed merger can facilitate the vertical integration of solar industry and construct a winning business model by leveraging each company's strengths to optimise capacity and increase bargain power as well as market shares.
