NEW YORK, NY--(Marketwire - August 19, 2009) - SunSi Energies Inc. (
As previously released, SunSi Energies Hong Kong Ltd will own 90% of a new company specifically formed to own the assets, expertise and technology of an existing Trichlorosilane production facility with a current production capacity of 25,000 MT per year.
The new company, to be called Zibo Boayun Chemical Company Ltd, will produce TCS, a chemical used in the production of polysilicon, an essential raw material used during the production of solar cells for photovoltaic (PV) panels that convert sunlight to electricity. TCS is considered the first product in the solar PV value chain before polysilicon, and is also the primary source of ultrapure silicon for the semiconductor industry.
This acquisition strategically positions SunSi as the first company with focused operations specializing in TCS production to have their common stock publicly traded in the U.S.
Under the Joint Venture agreement recently signed, all of the assets, including permits, rights, land usage, as well as the entire labor force and management team of the Chinese TCS producer will be transferred, upon closing of the transaction, into the newly formed Joint Venture Company of which SunSi Energies Hong Kong Ltd will own 90% of the equity. While, the current name plate capacity of the facility is 25,000 metric tons of TCS per year, SunSi has committed to double this over the next 12 months. While this transaction is taking place, the TCS production facility continues its normal activities.
"We are delighted to move forward with the Zibo team. They are well respected as a TCS producer and we feel that we've teamed up with the best TCS producer in China. Both teams share the same goals and we are proud of the relationship we've built over the last 6 months. We can now focus on expanding production at the current facility and focus on business outside of China which is already coming our way," said Mr. Michel G. Laporte, President of SunSi Energies Inc.
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