Jul 1, 2011
JA Solar (NASDAQ:JASO) announced that it has entered into a definitive agreement to acquire 100% ownership interest in Silver Age Holdings Limited. At the time of closing JA Solar will issue 30.901 million ordinary shares as consideration at a price of $5.825 per share.
Dr. Fang Peng, CEO of JA Solar, commented, "This agreement represents another important step in JA Solar's strategy of optimizing our cost structure through selective vertical integration. In today's solar market, it is essential for producers to improve costs while maintaining a relentless focus on technology and product quality. By boosting JA Solar's internal wafer capacity through this acquisition, we expect to achieve greater economies of scale and improve the company's profitability. Furthermore, Solar Silicon Valley has key technologies which can be leveraged to provide superior quality wafer substrates for our high-efficiency solar cell products. As a low cost leader in the solar industry, we expect that this transaction will enhance JA Solar's leadership position and enable us to meet strong global demand for our high-quality, high-efficiency solar products."
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