MEMC Electronic Materials Acquires Minority Interest In Eversol

MEMC Electronic Materials Inc., a provider of silicon wafers and solar energy services, has taken an ownership interest in Eversol Corp., a Taiwan-based solar wafer manufacturer.

In connection with the contract amendment between MEMC and Gintech Energy dated Sept. 22, 2009, MEMC purchased Gintech's 8.36% interest in Eversol at Gintech's original cost. In a subsequent transaction, as part of recent capital raised by Eversol, MEMC invested $5 million for an additional 5.1 million shares, bringing MEMC's ownership stake in Eversol to approximately 10.6%.

‘In addition to our plans to bring solar wafer manufacturing capability in-house, MEMC is identifying strategic partners for solar wafer manufacturing, says Ken Hannah, president of MEMC Solar Materials. ‘With a mix of internal and external solar wafering capacity, we can minimize fixed costs and maintain the flexibility to satisfy growing levels of demand.’

SOURCE: MEMC Electronic Materials Inc.

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