PV module assembly equipment specialist, Mondragon Assembly has acquired rival Spanish firm, Gorosabel Group’s solar assembly and automation business unit.
Mondragon Assembly and Gorosabel had been key players with similar market share of the module assembly equipment sector and had competed on a global basis.
Consolidation in the PV equipment market is ongoing due to three years of minimal capital expenditure from PV module manufacturers as overcapacity in the sector dominated.
Mondragon Assembly said the acquisition would add the “knowledge and experience of a remarkable competitor, along with its client portfolio and broad range of products”. As a result the company would be improving its technology and business opportunities in the development of solar module assembly lines.
The company noted that it would boost the development of new products in the Gorosabel range while offering technical support and repair services to the equipment already installed around the world. Financial details of the deal were not disclosed.