Korea-based Hanwha Group has formally launched Hanwha Q.CELLS, following its acquisition of the Germany-based solar manufacturer.
Charles Kim will lead Hanwha Q.CELLS as CEO, joining the company from Hanwha SolarOne. Min Su Kim will replace Charles Kim as the president of Hanwha SolarOne and joins the company from Hanwha Group.
According to the company, the launch of Hanwha Q.CELLS establishes Hanwha as the third largest solar manufacturer in the world. Hanwha's 2.3 GW of manufacturing capacity is distributed across Germany, Malaysia and China.
Hanwha Group has acquired the following assets from Q.CELLS: headquarters, research and development center and administrative operations in Germany; 200 MW cell and 120 MW module manufacturing facilities in Germany; 800 MW cell manufacturing facility in Malaysia; entities in the U.S., Australia and Japan; 34 patents and 1,225 employees.