Amtech exiting solar sector on expected divestiture of subsidiaries

Facebook
Twitter
LinkedIn
Reddit
Email
In December 2014, Amtech acquired a 51% controlling interest in SoLayTec and a controlling interest in July 2017. SoLayTec provides ALD systems used in the passivation of high efficiency solar cells, including PERC and various hybrids. Image: Amtech Systems

PV equipment and technology specialist, Amtech Systems is to sell its solar manufacturing equipment subsidiaries that included Tempress and SoLayTec to focus its semiconductor sector business.

The company had previously undertaken a review of its solar business late in 2018, which included the departure of Amtech’s CEO, Fokko Pentinga, after 24 years of service. The company has noted the impact from the China 531 New Deal at the end of May, 2018, which led to a slowdown in a number of Chinese PV manufacturers continuing with previously announced capacity expansions plans. Later, Amtech noted that a major order from a Chinese customer had been cancelled.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Profitability had been an issue in its solar segment in recent years, while its order backlog declined. The company had previously reported a net loss of US$7.1 million within its solar business in FY2018, after a net profit of US$6.1 million in FY2017.

The company had previously reported a net loss of US$7.1 million within its solar business in FY2018, after a net profit of US$6.1 million in FY2017.

In a first quarter 2019 presentation, Amtech noted that it had little visibility in the future business of its solar segment as well as strong competition from Chinese equipment manufacturers with “good enough” equipment, while “superior technology not enough to win in [the] current CAPEX constrained market environment.”

In a financial statement, Amtech noted that it had adopted a plan to sell its solar operations on or before March 31, 2020. However, it was unable to assess at this time the costs associated with the planned sale. 

Amtech's J.S. Whang, Chairman and Chief Executive Officer, commented on the planned sale, “In November 2018 we announced that we had initiated a comprehensive review of our solar businesses.  In a February update we noted thus far our review strongly indicates that our combined Semi and SiC/LED polishing business provide better markets for enhancing the value of Amtech Group. We have recently completed our assessment and conclude, along with Tempress and SoLayTec management, that significant investment is required to effectively compete in the changing solar industry. We therefore conclude Tempress and SoLayTec would be better positioned to capitalize on opportunities in the solar industry under new ownership.”

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
11 March 2025
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

June 14, 2024
PV Tech's coverage of the SNEC 2024 trade show continues on day two, kicking off with a discussion with GCL System Integration.
Sponsored
June 13, 2024
Tongwei has continued to increase its investment in HJT cell and module technology and built a green supply chain for its PV cells.
June 11, 2024
The price of solar PV modules has hit bottom in the US, in response to the latest antidumping and countervailing duty (AD/CVD) petition and solar tariffs.
June 7, 2024
Chinese solar manufacturing giant LONGi Green Energy has addressed rumours it is planning to shut down production at its facilities in Southeast Asia in response to US import tariffs coming into force.
June 6, 2024
A leading PV technologist has called for new cell testing standards to safeguard against failures in TOPCon and HJT modules.
Premium
June 6, 2024
University of New South Wales' Bram Hoex discusses why stability is as important as the higher efficiencies offered by cell technologies such as TOPCon and HJT.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia