NEW START: Neo Solar Power Energy would be renamed United Renewable Energy once the Fair Trade Commission approves its merger with Gintech and Solartech
Taipei Times
Date: Mar 29, 2018
By: Lisa Wang / Staff reporter
Solar cell maker Neo Solar Power Energy Corp (新日光能源) yesterday said it expects to return to profit next year on the back of a business model restructuring and reduced costs following a three-way merger.
The Hsinchu-based company announced the forecast after shareholders approved a merger with local peers Gintech Energy Corp (昱晶能源) and Solartech Energy Corp (昇陽光電) in an extraordinary meeting.
“We hope our transformation efforts and the merger synergies will … lead to a turnaround in operations,” Neo Solar chairman Sam Hong (洪傳獻) said. [FULL STORY]