Giga Solar Materials Corp. will add production lines at its photovoltaic conductive-paste plant in the Southern Taiwan Science Park to cope with booming orders from solar-energy equipment manufacturers.
Industry executives pointed out that Giga Solar becomes the first Taiwanese manufacturer in the PV industry to boost output in this round of business-cycle upturn. Giga Solar has commanded over 90% of Taiwan's market for the conductive pastes.
They estimated the company's earnings for the fourth quarter of 2012 to leap, citing a 41% month-on-month increase in revenue the company achieved in October. The company had revenue of NT$258 million (US$8.8 million at US$1: NT$29) in October, increasing 38% year on year.
The company has recently penetrated supply chains of solar-equipment manufacturers in mainland China and Japan.
It is understood that the company's front-side paste, back-side paste and aluminum paste are around 20% lower in pricing than that offered by its competitors, making the company competitive in the market.
In the third quarter of 2012, the company earned NT$2.02 per share in after-tax net income, which helped swell the company's earnings for the first three quarters to NT$11.67 per share.