Printer Friendly

China Technology Development Group Acquires Solar Assets of Soyin, New Joint Venture Planned.

ENERGY RESOURCE-17 September 2007-China Technology Development Group Acquires Solar Assets of Soyin, New Joint Venture Planned(C)2007 JeraOne -

China Technology Development Group Corporation today announced the proposed acquisition of all solar energy assets and business of Shenzhen Soyin Electrical Appliance Industrial Co. Ltd.

China Technology expects to contribute US$5.8 million in cash consideration to a new joint venture, Shenzhen Shengguang New Energy Technology Co., Ltd., pursuant to the joint venture agreement the two companies signed on September 14.

China Technology will be the largest shareholder of the joint venture company, with a 49% ownership interest. All of Soyin's existing solar energy business will be solely operated by the JV company upon completion of its establishment. In addition, the board of directors of the new company will consist of five directors, three of whom will be appointed by China Technology.

Founded in 1998, Soyin is a leading photovoltaic (PV) application product provider in China. Soyin's major customers are from overseas, including Atico (one of the largest trading companies in U.S.), Test Rite Group (top three trading companies in Taiwan) and Axone (atop trading company in France).

For more information, visit

((Comments on this story may be sent to

((Distributed via M2 Communications Ltd -
COPYRIGHT 2007 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Energy Resource
Date:Sep 17, 2007
Previous Article:Statkraft, SCA Sign Long-Term Electricity Supply Contract.
Next Article:NanoLogix Demos Generator Powered by Hydrogen Gas.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |