Storage

Ceradyne has completed its acquisition of VIOX, a specialty glass company based in Seattle, Washington. Over the past few years VIOX has seen around 70% of its sales come from solar glass products, which have been specifically formulated for polycrystalline silicon solar PV applications. Ceradyne bought VIOX with a US$27 million cash payment at closing, which also includes a post-closing adjustment in two months. Additionally, conditional payment of up to US$22 million may be paid if VIOX reaches certain sales diversification and earnings targets over a 30-month period after the closing.

LDK Solar, along with its polysilicon manufacturing subsidiary, has signed a definitive agreement with China Development Bank Capital Corporation, Excel Rise Holdings, Prosper East and an investment fund associated with another Chinese bank, where the investors will all subscribe to a collective US$240 million in series A redeemable convertible preferred shares of LDK Silicon & Chemical Technology. The wholly owned subsidiary of LDK Solar, contained in the Cayman Islands, will hold and operate LDK Solar’s polysilicon division once all PRC government approvals for foreign investments have been completed.

GCL-Poly Energy Holdings and Solarfun Power Holdings have mutually entered into a long-term wafer and polysilicon supply contract where GCL-Poly will provide Solarfun with 2,500MW of wafer and polysilicon products from January 2011 until December 2015. Included in the contract signed between the two companies is a price adjustment mechanism.

Meyer Burger Technology has had an impressive few weeks scoring two big orders and has added a third order from a customer in Asia. The US$57.1 million (CHF55 million) deal will see MB Wafertec, a division of Meyer Burger, supply slicing, bricking and automated gluing systems while wafer inspection systems will be delivered by Hennecke Systems. Delivery is scheduled for 2011.

Dow Electronic Materials broke ground on its new Eastern China manufacturing facility, located at the company’s Zhangjiagang site in JiangSu Province, approximately 98 kilometers from Shanghai. City government officials and employees took part in the groundbreaking event.

Wacker Chemie says the 15,000MT facility will be completed by the end of 2013.

Heraeus finalized and closed its purchase of H.C. Starck’s Conductive Polymers Business Group on December 1 and will be integrating the Clevios product portfolio into its conductive polymers division. The companies have both agreed not to disclose the purchase price, but Heraeus does look forward to offering its customers in the electronics industry a broader assortment of coating materials.

GT Solar has received the first orders for its sapphire crystallization system. The two orders, which total more than US$84 million, are from Jiangsu Jixing New Material and Jiujiang Sapphire Tech and mark GT Solar's entry into LED equipment market.

AU Optronics (AUO) and Evonik have consolidated their business relationship by signing a solar and green energy planning, manufacturing and research and development deal. The non-exclusive agreement will see both companies pool their resources in an attempt to increase their presence in the renewable energy market.

The dispute between China Sunergy and REC Wafer Norway continues as China Sunergy released an update on the court proceedings. On November 5, 2010, the Supreme Court of the People’s Republic of China made a final binding decision that the Jiangsu Higher Court will have jurisdiction over the case.