China National Building Materials Group Corp. (CNBM), a Chinese building materials and glass manufacturer, acquired AVANCIS GmbH’s, a German PV producer of CIS solar PV modules, solar business and stated that it will restart PV production business by the same title “AVANCIS” in the original site in Torgau, Germany.
Although AVANCIS exited solar activity by selling its solar business, CNBM plans to expand it PV module development and production, meaning that AVANCIS’s producing lines won’t be completely suspended, SolarServer reported.
“I am delighted that with CNBM International Corporation we have found a strong investor who will help us to further advance our CIS technology with its promising future”, explained ANANCIS CTO Dr. Franz Karg. “Together with the recently achieved new efficiency world record for encapsulated thin-film modules, this is another important milestone for the successful growth of our company.”
CNBM intends to operate the Tech Center in Torgau and run the laboratory in Munich as a research and development facility. All AVANCIS’ 240 employees will also be given opportunity to enter new companies, and the terms of employment with all the rights and obligations existing at the time of the business transfer will be taken by the new owner, CNBM.
|Photo Credit: AVANCIS|