Suntech, already one of the world’s largest module makers, will spend $127m acquiring the remaining 70% of Glory Silicon Technology – including $80m in liabilities owned to Suntech.
By next year Suntech expects its wafer output to cover 25%-50% of its cell and module capacity. The company has targeted 1.8GW of cell and module capacity by the end of 2010.
The acquisition will allow Suntech to “significantly reduce our wafer cost and improve profitability”, says Shi.
After
