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The San Francisco Chronicle has reported that MiaSolé has been sold to Hanergy, a privately owned Chinese company which specializes in providing renewable power. According to documents obtained by the Chronicle, the deal went through for US$30 million. MiaSolé will continue to operate as a wholly owned subsidiary of Hanergy Holding Group of Beijing with the deal anticipated to close on October 31, 2012.
Although MiaSolé would not give any details about the supposed deal, the Chronicle noted that a source familiar with the sale said that the company plans to add jobs in the US. Further, the agreement is said to hold a stipulation in which both Hanergy and MiaSolé agree that no employees will be laid off in the 12 months following the deal’s closing date.
This summer MiaSolé advised that it would be reorganizing the company in order to cut costs. Conversely, Hanergy has been showing its growing interest in the thin-film, with the company agreeing in June to buy Solibro, the thin-film subsidiary of Q-Cells.