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Joint venture between RITEK and Scheuten enters into the world market for thin film solar cells--Oct. 17, 2008 |
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The First CIGS Thin Film PV Mass Production in Taiwan
Joint Venture of RITEK & Scheuten will infiltrate
global thin film solar cell market
Succeeding to the strategic alliance for silicon module in August between RITEK, a leading optical disc and OLED group world-wide, and Scheuten, a global leading solar module manufacturer, both parties decided to further sign an agreement in the "Joint Venture Agreement Signing Ceremony" at Sheraton Taipei represented by RITEK Group CEO, Mr. Gordon Yeh and Scheuten Group CEO, Mr. Leon Giesen, Scheuten Solar CEO, Mr. Frans van den Heuvel on 14th October 2008. RITEK & Scheuten will incorporate a JV Company to manufacture CIGS thin film solar cell with issued capital of NT$ 600 million at first stage, where each party takes 50% share holding. The JV Company will be located at Hsin-Chu in Taiwan. The installation of 30MW equipment will be completed by the end of 2008. From 2009 to 2010, the capacity will be doubled each year to reach 120MW by 2010. Such expansion plan can be even more aggressive based upon the growing market strength in the future.
RITEK and Scheuten are hand-in-hand strategic partners who not only have the same aspects toward future development on solar industry, but also have the complementary effects on market and technology. For the past days, Scheuten has established strong customer base and track record world-wide for crystalline silicon solar module. Above that, Scheuten has also put much effort on the development of most advanced thin film CIS solar technology. RITEK has devoted and accumulated much knowledge on CIGS coating and equipment development derived from thin film core technology for long time disc and OLED manufacturing. The synergy for the joint venture will lead to the most competitive force.
Mr. Leon Giesen, CEO of Scheuten, said, "Scheuten is a fast-growing international company with two divisions: solar and glass. We put people and customers first. Our combination of solar power and glass to create innovative designs is a unique process and the company's durable products help to ensure the welfare and health of customers, consumers, suppliers and staff. The essential feature of the Scheuten brand is its focus on energy, sustainability, growth and life."
Mr. Gordon Yeh, CEO of RITEK Group, said that after the 1st stage collaboration with Scheuten on AimCore investment, RITEK then got strategic alliance with Scheuten on silicon wafer solar cell module manufacturing as the 2nd stage. Giving thanks to the complement on technology, mass production capability and market development from each other, both parties decided to go further into the 3rd stage, incorporating a JV company on thin film CIGS solar cell manufacturing. The new company will focus on CIGS cell and module production, targeting at the 1st place of global CIGS market.
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