Hanwha SolarOne Completes Acquisition of Hanwha Q CELLS

Published on 9 Feb 2015
Hanwha Q CELLS  Hanwha SolarOne 
Hanwha SolarOne Co., Ltd. today announced it has acquired 100% of Hanwha Q CELLS Investment Co., Ltd from Hanwha Solar Holdings Co., Ltd. in an all-stock transaction. 

Hanwha SolarOne has issued approximately 3.7 billion of its ordinary shares (the equivalent of approximately 740.2 million American Depositary Shares of Hanwha SolarOne) to HSH, as described in the shareholder circular furnished to the United States Securities and Exchange Commission dated December 24, 2014, as supplemented on January 23, 2015 (the "Circular").

Mr. Seongwoo Nam, chairman and chief executive officer of Hanwha SolarOne commented, "We believe the merger of Hanwha SolarOne and Hanwha Q CELLS will create a number of synergies and provide us with a much strengthened presence and competitive position in the global PV market. We plan to carefully manage the integration of the two companies, which have been benefitting in recent years from Hanwha's strategic support and the larger Hanwha culture."


ENF Profiles For Companies Mentioned in This Article

Hanwha Q CELLS (Solar Panels): http://www.enfsolar.com/directory/panel/772
Hanwha SolarOne (Solar Panels): http://www.enfsolar.com/directory/panel/2406
Hanwha Q CELLS (Solar System Installers): http://www.enfsolar.com/directory/installer/772
Hanwha SolarOne (Solar System Installers): http://www.enfsolar.com/directory/installer/2406
Hanwha SolarOne (Solar Materials): http://www.enfsolar.com/directory/material/2406
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