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JA Solar expands manufacturing ops in Shanghai

Posted: 08 Jul 2010 ?? ?Print Version ?Bookmark and Share

Keywords:solar cell? manufacturing JA Solar Shanghai operation?

JA Solar Holdings Co. Ltd has entered into an agreement to acquire 100 percent of the shares of Shanghai Jinglong Solar Technology Co. Ltd from Ningjin Jinglong PV Investment Co. Ltd, a company controlled by JA Solar's chairman, Baofang Jin.

Located in the Minhang Export Processing Zone within the Fengxian district of Shanghai, Shanghai Jinglong Solar owns the land, building and facility currently being leased by JA Solar for its module production operation in Fengxian, Shanghai. Through the acquisition, JA Solar would acquire approximately 206,590m? of land, 58,706m? of buildings and related facilities.

Under the terms of the agreement, JA Solar will acquire Shanghai Jinglong Solar for a cash consideration of RMB 198.96 million ($29.3 million), representing the fair value of the company based on an independent third party valuation. The acquisition will enhance JA Solar's ability to further expand its manufacturing operation to better support customers' growing requirements.

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