NEWS I REVIEW
Soitec Finalises acquisition of Concentrix Solar
SOITEC, a manufacturer of semiconductor materials for the electronics and energy industries, has finalized its acquisition of 100% of Soitec Solar GmbH, formerly Concentrix Solar
GmbH. Soitec exercised its rights over the remaining shares of Soitec Solar GmbH in compliance with the terms of the agreement signed in December 2009.
This announcement validates the strategy of the company in the solar power plant market. It also confirms Soitec’s trust in Soitec Solar GmbH’s founders and teams, as well in its various partners, who are fully associated with the company’s first successes in this new activity.
Part of their successful collaboration engaged for the past two years in the context of a technical alliance concerning the development of solar cells and CPV systems, Soitec and the Fraunhofer Institute for Solar Energy Systems (ISE) are for instance developing a new generation of photovoltaic cells, the Smart Cell.
This new cell is based on Soitec’s disruptive technologies, which will enable CPV-system efficiencies to be increased significantly beyond current capabilities.
“As we complete the successful integration of this new solar activity, we are confirming our leadership strategy for the CPV market. Soitec Solar
GmbH enables us to apply our materials
engineering expertise to the development of high-performance photovoltaic systems at a competitive cost. Moreover, the synergies that we have in this field with our partners including Fraunhofer ISE and CEA-Leti are contributing to the rapid deployment of our innovations. These partnerships illustrate the advantages of public-private research collaboration to promote innovations as rapidly as possible by industrializing them,” explained André- Jacques Auberton-Hervé, Soitec’s president and CEO.
“We are very satisfied with the strategic and technical opportunities resulting from our alliance with Soitec, especially thanks to the pooled competencies and technologies of our teams. Soitec’s ability to industrialize a disruptive technology and produce cost-competitive CPV systems has led to accelerated growth in our solar activities on an international scale,” concluded Hansjoerg Lerchenmueller, Concentrix Solar GmbH’s CEO and founder.
TSMC Solar begins
production TSMC SOLAR has received both Underwriters Laboratories (UL) and International Electrotechnical Commission’s (IEC) certification for a wide range of its TS CIGS series PV modules. Modules with nominal power of up to 130 W are now listed on the California Energy Commission’s (CEC) list of compliant PV modules.
“UL and IEC product certifications open the majority of the world’s solar markets to TSMC Solar products,” says Ying-Chen Chao, President of TSMC Solar. “We are also making rapid progress in acquiring the individual market and special purpose certifications required to compete in solar markets worldwide.”
TS CIGS series modules entered production this month, with customer shipments to begin in April. The modules are produced at TSMC Solar’s highly automated manufacturing facility in Taichung, Taiwan. Demonstrating its commitment to best practices in quality and manufacturing excellence, TSMC Solar has received ISO 9001 quality management system certification.
“Our team has done an outstanding job to rapidly achieve these milestones less than four months after completing tool move-in,” Chao points out.
TSMC’s solar business was founded in May 2009 and is headquartered in Taichung, Taiwan.
Masimo acquires Spire Semiconductor for $8.5 million
SPIRE CORPORATION has completed the sale of most of the assets of Spire Semiconductor to Masimo Semiconductor for an aggregate consideration of $8.5 million. Spire Semiconductor is now a foundry services business.
“With the divestiture of our semiconductor business to Masimo, Spire has strengthened its financial position and can now more aggressively pursue opportunities in its solar and biomedical businesses,” says Roger G. Little, Chairman and Chief Executive Officer of Spire Corporation. “For the past several years, Masimo has been one of our largest customers and is an ideal strategic buyer for the business.”
Joe Kiani, Masimo CEO and Chairman of the Board continues, “Spire Semiconductor is a very innovative company. We have been extremely impressed with their technology and the service they have provided to us as a customer. We plan to continue
building on the proprietary technology base established by Spire Semiconductor. The acquisition will permit us to focus the operation on Masimo’s custom component requirements and accelerate technology advancements in our non-invasive blood monitoring products.”
The asset purchase agreement provided that the aggregate purchase price for the Semiconductor Business unit was $8.0 million plus the assumption of $500,000 in liabilities, with the cash portion of the purchase price being reduced by retained cash and liabilities assumed by Masimo in excess of $500,000.
As a result, on the closing date, the Company received approximately $7.2 million in cash and Masimo assumed approximately $1.2 million in liabilities. Of the purchase price, approximately 10% of the cash portion was deposited into an indemnity escrow account for fifteen months.
Issue II 2012 I www.solar-international.net
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