Taiwanese Company to purchase GE Energy’s Delaware Solar Module Assembly Operation

Motech Industries Inc. has signed an agreement to acquire GE Energy’s Delaware solar module assembly operation. The plant, which is located in Newark, Delaware assembles crystalline silicon based photovoltaic modules. The plant currently employs 75 people. In the purchase agreement, Motech will be entrusted to maintain GE’s high standards for solar module manufacturing at the existing factory site. With the acquisition, Motech will be granted the rights to use GE Energy’s module trademark for two years. In addition, Motech will assume the responsibility to provide warranty services to GE’s existing module clients.

The agreement is built on the foundation of an existing relationship between Motech and GE Energy where Motech has been a supplier of solar cells to GE Energy for the past four years.

“We are pleased to announce this agreement to purchase the solar module operation from GE Energy” said Dr. Simon Tsuo, Chairman and CEO of Motech. “We will do our best to maintain the high quality and safety standards GE has established at this factory.”

The transaction is subject to customary closing conditions and is expected to close in early January 2010.

About Motech

Motech Industries Inc. was founded in 1981 as a designer and manufacturer of test and measurement instruments. The company entered into solar cell production in 1999, and is a pioneer in the manufacturing and marketing of high-quality single and multi-crystalline silicon solar cells in Taiwan. Today, the company is the largest solar cell manufacturer in Taiwan and one of the top ten manufacturers worldwide in terms of production capacity and output. “Modern Technology for a Sustainable World” is the company’s motto to emphasize its strong dedication to developing a sustainable world and to encouraging the use of renewable sources of energy so that we, as citizens of the world, can breathe easier in the years to come. Motech is a publicly traded company on Taiwan’s Over-the-Counter (OTC) market with the trading code of 6244. For more information about Motech please visit http://www.motech.com.tw.

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Posted by Tracey A. Smith on Jan 5 2010. Filed under Alternative Energy, Energy Tech, Solar Energy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry