Brief: Valoe Starts Its Own IBC Solar Cell Production In Lithuania

Valoe Oyj

19/02/2019 08:05

Feb 19 (Reuters) - Valoe Oyj  VALOE.HE :
    * REG-VALOE STARTS ITS OWN IBC SOLAR CELL PRODUCTION IN
LITHUANIA.
THE COMPANY ACQUIRED SOLITEK'S SOLAR CELL PRODUCTION BUSINESS
FROM GLOBAL BOD GROUP
    * ESTIMATES THAT CAPACITY OF COMPANY'S 60 IBC CELL MODULE
WILL BE
APPROX. 320-340 WPE
    * AGREED TO ACQUIRE FROM LITHUANIAN GLOBAL BOD GROUP SIA
(BOD)
SOLAR CELL PRODUCTION BUSINESS OF JCS SOLITEK RESEARCH AND
DEVELOPMENT (SOLITEK)
    * SOLITEK'S SOLAR CELL PRODUCTION BUSINESS WILL BE DEMERGED
INTO A
NEW LITHUANIAN COMPANY
    * NEW SUBSIDIARY TO BE ESTABLISHED IN LITHUANIA WILL ACQUIRE
AT
COMPLETION OF DEAL.
    * VALOE AND ISC KONSTANZ HAVE AGREED ON LICENSING
ABOVEMENTIONED
CELL TYPES TO VALOE AND ITS FUTURE MANUFACTURING PARTNERS
    * VALOE - PURCHASE PRICE SHALL BE EUR 3.5 MILLION PROVIDED
THAT
NET DEBT AND NET WORKING CAPITAL OF NEW CO ARE EUR 0 AT
COMPLETION OF DEMERGER
    * HAS PAID AN INITIAL PURCHASE PRICE OF EUR 0.3 MILLION
    * COMPLETION OF DEAL WHICH IS ESTIMATED TO TAKE PLACE IN MAY
2019

Source text for Eikon:  ID:nGNE138lyW 
Further company coverage:  VALOE.HE 

 (Gdynia Newsroom)
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