Motech previously announced its plan to merge with Topcell Solar International Co. (TSi) and it held temporary general shareholder meeting on March 2nd 2015. The share exchange conversion will be six ordinary shares of Topcell Solar into one newly-issued ordinary share of Motech. The merger will officially take place on July 1st 2015. By then, Motech’s capacity will increase to 3GW, becoming the world’s manufacturer with the largest cell capacity.
Shareholders not only pointed out their expectations for better sales performance in the shareholder meeting, but also asked questions regarding the benefits of the merger, the exact time of the merger, and whether Motech will have more acquisition plans in the future. Motech indicated that by merging with TSi, it can lower costs and increase production capacity.
Motech is positive about the future PV market. In order to fully integrate the resources, reduce operation costs, and improve sales performance, Motech announced the acquisition of TSi on December 26th 2014.