Hanwha 'to keep most Q-Cells workers' as boss starts jail term

South Korean conglomerate Hanwha will include a pledge to safeguard most of the workforce in its still-under-wraps bid for PV manufacturer Q-Cells, reports in Germany suggest.

The latest details of Hanwha’s widely-leaked plans for Q-Cells come as its chairman Kim Seung-youn starts a four-year prison sentence in Korea for embezzlement.

Germany’s Mitteldeutsche Zeitung newspaper reports that Hanwha’s offer – apparently on the table, though not yet confirmed by Q-Cells or the Korean group – includes plans to keep Q-Cells’ existing production facilities in Germany and Malaysia, as well as most of its employees.

Such reports tally with the local government in Saxony-Anhalt’s apparent support for Hanwha’s takeover bid for the bankrupt German company, which was first revealed Log in to read complete article.

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