The China National Building Materials Group Corporation (CNBM) has completed its acquisition of German CIS thin-film module manufacturer Avancis.
The company said in a statement that work “to restart an improved production process” at its 100MW plant in Torgau would begin immediately.
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The research and development centre in Torgau would also continue its work.
The subsidiary will be headed up by Franz Karg, CEO, and Oliver Just, CFO.
The majority of the company’s 240-strong workforce have agreed to transfer to the new entity, according to Avancis.
Modules will continue to use the PowerMax brand name. Guarantees for old and new customers will be honoured.
