China Sunergy Co. Ltd., a specialized solar cell manufacturer based in Nanjing, China, has signed an agreement to acquire 100% of the shares of two related module manufacturers – CEEG (Shanghai) Solar Science & Technology Co. Ltd. and CEEG (Nan Jing) New Energy Co. Ltd.
‘Being vertically integrated will help to stabilize and increase margins in a possibly volatile environment, while representing a transformation towards a solution provider,’ states Lu Tingxiu, chairman of China Sunergy. ‘We are reshaping the company from a single dimension manufacturing-oriented business into a platform with two pillars: technological innovation and a closer distribution channel to end customers.’
SOURCE: China Sunergy Co. Ltd.
