Solarion wins major Asian investor Walsin Lihwa - Investment of over € 60 million planned in Leipzig

Construction of a solar fab with 140 employees in Leipzig The Asian Walsin Lihwa Corporation (TWSE: 1605) chooses solar technology from Leipzig.

Through its wholly owned subsidiary, Ally Energy, Walsin Lihwa will invest 40 million euro and takes a 49 percent stake of Solarion AG, a specialist in flexible thin film solar cells and modules. Under involvement of the Development Bank of Saxony the investment is awarded with a grant of more than 20 million euro.

The contracts were signed today between Yu-Lon Chiao, Chairman of Walsin Lihwa, Dieter Waffel, Supervisory Board Chairman of Solarion AG, Dr. Karsten Otte, CEO of Solarion AG and Dr. Alexander Braun, CTO of Solarion in the ballroom of the new city hall in Leipzig.

In the first stage, an integrated cell and module factory with an annual production output of 20 megawatts and a staff of 140 employees will be constructed in the near vicinity of the BMW Leipzig assembly plant. Subsequently it planned to set up a manufacturing plant with 180 megawatts of annual production capacity. In addition, both parties have signed agreements on technical cooperation and licensing. As part of a technological cooperation, the thin-film technology will be enhanced.

Read the full Press Release bellow.

600450 Solarion wins major Asian investor Walsin Lihwa - Investment of over € 60 million planned in Leipzig glassonweb.com
Date: 29 November 2010
Source: www.solarion.net

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