Companies )Roth & Rau AG Signs Joint Venture Agreement with Chinese Company |
| Published 03 February 2010 |
| The Roth & Rau Group is pressing ahead with the strategic expansion of its activities in its cadmium telluride thin film (CdTe) division. To this end, Roth & Rau AG and its subsidiary Roth & Rau CTF Solar GmbH (CTF) have signed a joint venture agreement with a Chinese company for the construction and operation of systems to manufacture CdTe solar modules in China. In the first stage, a specimen plant with an annual capacity of 80 MW is to be built in Brandenburg, Germany. This will produce CdTe solar modules on a turnkey production line to be supplied by CTF and will act as a reference plant for future operations in China. The order for Roth & Rau’s subsidiary CTF to supply the turnkey line to the joint venture company to be established is expected to be worth almost € 100 million. However, the terms governing the supply of the turnkey line still have to be negotiated in detail. Performance of the joint venture agreement is subject to the conditions precedent of approval by the relevant bodies at the Chinese joint venture partner and the Supervisory Board of the Roth & Rau AG, the agreement of terms for the supply of a turnkey line by CTF to the joint venture company, approval by the Federal Antitrust Office and the granting of approval by the relevant Chinese authorities for foreign investments. This joint venture and the planned entry into the Chinese CdTe market represent a milestone in the company’s development. For the operation of the specimen plant, Roth & Rau AG and its contract partner will initially found a joint venture company (limited liability company – GmbH), in which Roth & Rau AG will hold a 49% share of the capital. In line with its shareholding, Roth & Rau will contribute an amount of € 19.6 million to the new company’s capital reserve. Once the specimen plant in Brandenburg is successfully up and running, corresponding production plants are to be developed in China. Roth & Rau will have the opportunity to hold a 32% stake in these. Roth & Rau will be the preferred supplier for equipping the Chinese plants with turnkey lines. |
| Source: Roth & Rau |
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