CTDC announces expansion plan of 150MW by 2011

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China Technology Development Group (CTDC) has outlined the plans for its crystalline PV module production capacity expansion. The company aims to achieve 150MW production capacity by the end of 2011 and 300MW by the end of 2012. CTDC cites an increase in market demand and its desire to maximize their value for their shareholders as reasons for their planned expansion. Additionally, the company stated that in order to further facilitate company growth, it will be actively seeking out mergers and acquisitions to complete an overall expansion.

Alan Li, chairman of the board and CEO for CTDC, said, “We are honored to receive the unwavering support from both Chairman Dan and Vice President Hu. Their recognition is truly encouraging to our PV business…We believe the global PV module market will continue to perform well in 2011 and we are expanding our capacity to keep pace with the market demand. Looking forward, we will cooperate with our upstream and downstream partners to develop the Xiamen Bay into a renowned production base for the solar industry which will integrate vertical value chain from ingots, wafers, cells, PV modules and PV applications, etc.”

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