JinkoSolar buying manufacturing assets of bankrupt solar firm


JinkoSolar (JKS +0.5%) has agreed to buy the manufacturing assets of bankrupt rival Zhejiang Topoint. The assets include 500MW of solar cell and wafer capacity apiece, and 100MW of module capacity. Following the deal's closing, Jinko's total cell, wafer, and module production capacity will respectively stand at 2GW, 2GW and 2.1GW.

Jinko will begin operating Topoint's assets on Jan. 13, but won't formally assume ownership until Topoint's restructuring is completed.

The deal highlights the Chinese government's growing willingness to let struggling solar manufacturers go bankrupt, as well as its support for industry consolidation.

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Comments (2)
  • sting1000
    , contributor
    Comments (3) | Send Message
     
    It should be a good deal. JKS got government bank loan to buy assets. Government will give they more orders. That should be win and win situation. I read some articles, some of not profitable solar companies were really hard to get bank loans now.
    12 Jan 2014, 09:37 PM Reply Like
  • sting1000
    , contributor
    Comments (3) | Send Message
     
    It should be a good deal. JKS got government bank loan to buy assets. Government will give them more orders. That should be win and win situation. I read some articles, some of not profitable solar companies were really hard to get bank loans now.
    12 Jan 2014, 09:40 PM Reply Like
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