‘WINNING FORMULA’: The merger of Neo Solar, Gintech and Solartech Energy into United Renewable Energy Co would help them diversify into solar system installations
Taipei Times
Date: Jan 13, 2018
By: Lisa Wang / Staff reporter
Solar cell maker Neo Solar Power Energy Corp (新日光能源) yesterday said it has
Neo Solar chairman Sam Hong, right, speaks at a news conference in Taipei yesterday.
Photo: CNA
received government support to finance a three-way merger in the latest restructuring efforts — worth NT$5 billion (US$168.92 million) — to boost profitability by penetrating all levels of the solar supply chain.
It is a strategy created by Neo Solar and local partners Gintech Energy Corp (昱晶能源) and Solartech Energy Corp (昇陽光電) to counteract price volatility in the solar cell market by rapidly diversifying into a lucrative solar system installation business.
“We are not forming a big solar cell alliance,” Neo Solar chairman Sam Hong (洪傳獻) told a media briefing yesterday. “We are creating a different business model — a winning formula — via this three-in-one merger.” [FULL STORY]
