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Electronics Production | October 26, 2006

Novotrade acquires Genesis Solar

Hungarian holding company Novotrade Nyrt has acquired 100 % of the Spanish firm Genesis Solar.

Spanish Genesis Solar has attempted to utilize Andalusian regional-development funds to set up a solar panel plant similar to that envisioned in the company's Hungarian plans. Novotrade is 70.57% owned by Genesis Capital Management, a wholly owned unit of Genesis Investment Fund. Novotrade acquired Genesis Solar for Ft 100 million, according to local media source BBJ.
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