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Local company acquires solar module plant from GE Energy

Local company acquires solar module plant from GE Energy

Taipei, Dec. 29 (CNA) Motech Industries Inc., Taiwan's largest solar cell maker, said Tuesday it will buy a solar cell module assembly plant in Delaware from General Electric Co.'s (GE) energy unit for NT$146 million (US$4.54 million).
The agreement, signed the previous day, will also enable Motech to use GE Energy's brand on the solar-cell modules made in the Delaware facility for two years, Motech said in a statement.
Although the plant has an annual capacity of about 20-30 megawatts, it can add more flexibility to Motech's operation and is also a major step in helping the company to enter the solar-cell market in the U. S., the company said.
Motech also noted that it will not use its own brand in the U.S.
market, to avoid cannibalization of its products.
The company said it is now running at full capacity and that annual capacity is expected to reach between 800 megawatts and 1 gigawatt in 2010 -- with total shipments above 700 megawatts.
Motech is also building a module assembly plant in Kunshan, in the eastern China's Jiangsu Province, and might also consider building a module assembly plant in the U.S., the company said.
Cheered by the news about Motech's acquisition, solar issues gained on the Taiwan stock market Tuesday, beating the broader market.
Motech shares rose NT$8, or 5.8 percent, to close at NT$147, while Solartech Energy and Tynsolar both advanced to the maximum daily ceiling of 7 percent to close at NT$56.6 and NT$45.2, respectively.
(By Maranda Hsu and Fanny Liu)