Poly manufacturer takes out of wafer JV with semiconductor firm

Mar 17, 2020 03:24 PM ET
  • GCL-Poly has actually drawn its dedication to infuse US$ 68m right into a 30 GW manufacturing capability wafer fab joint endeavor developed with Tianjin Zhonghuan in the Chinese self-governing area of Inner Mongolia, pointing out a choice to concentrate on 'extra affordable items'.
Poly manufacturer takes out of wafer JV with semiconductor firm
Image: Derik van Zuetphen/Flickr

Chinese polysilicon supplier GCL-Poly today took out from a wafer-making joint endeavor developed with semiconductor business Tianjin Zhonghuan.

GCL-Poly Energy Holdings Ltd subsidiaries Jiangsu Zhongneng Polysilicon Technology Development Carbon Monoxide Ltd as well as Konca Solar Cell Carbon monoxide Ltd moved their corresponding 18% and also 12% shares in Inner Mongolia Zhonghuan GCL to JV companion Tianjin Zhonghuan.

A declaration provided on the Hong Kong Stock Exchange where GCL-Poly is noted stated the step would certainly proceed the poly firm's technique of "more settling its item framework by spending ... [in] a lot more affordable items".

The growth indicates GCL-Poly systems Jiangsu Zhongneng as well as Konca will certainly no more need to spend RMB288 million (US$ 41 million) as well as RMB192 million right into the JV, specifically.

GCL-Poly indirect subsidiary Suzhou GCL Technology had actually initially dedicated, in May, to spend RMB800 million in the endeavor. That number was modified down in July prior to Suzhou's dedication was divided in between its 2 fellow GCL-Poly subsidiaries in October.

The joint endeavor is a 30 GW annual production capability solar wafer production center established in the Inner Mongolian resources of Hohhot by GCL-Poly as well as Tianjin Zhonghuan. Suzhou GCL had actually devoted to elevate its risk in the project from 30% to 31.27% in June as part of a RMB9.13 billion strategy to elevate outcome capability to 55 GW over three-and-a-half years.

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