29 Feb '16, 9am

Shanghai Electric buying 30% stake in Manz

Shanghai Electric buying 30% stake in Manz

The company also said that it had concluded its assessment of its turnkey CIGS thin-film business, which will remain a unit within the company. PV and electronics equipment manufacturing and automation specialist Manz is selling around a 30% shareholding in the company to major Chinese utility, Shanghai Electric, as part of a strategic collaboration in the fields of energy storage, solar technology and automation technology. The company also said that it had concluded its assessment of its turnkey CIGS thin-film business, which will remain a unit within the company. Manz plans to issue new shares to a subsidiary of Shanghai Electric that would give the utility a 29.9% stake in the company. The company has equipment assembly facilities in China and has received a number of new orders in the battery storage sector since the beginning of the year. Dieter Manz, founder and CEO...

Full article: http://www.pv-tech.org/news/shanghai-electric-buying-30-s...

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