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Provider: Huarong Securities Co., Ltd

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Sanan Optoelectronics Co Ltd to Fully Acquire Joint Venture; to Establish Sub-subsidiary

Monday, 24 Jun 2013 08:00pm EDT 

Sanan Optoelectronics Co Ltd announced that it will acquire the remaining 40% stake in its joint venture, which was established by the Company and EMCORE Corporation, for USD 4.8 million in total, from EMCORE Corporation. As a result, the Company will hold a 100% stake in the joint venture. After that, the joint venture will invest RMB 200 million to establish a Qinghai-based wholly owned subsidiary, which will be engaged in sale of grid-connected PV power plants and related power modules, as well as the design, construction, technical consulting and maintenance services of photovoltaic systems engineering works.