JA Solar Buys Solar Tech Firm From Company Run By Chairman

Date : 07/06/2010 @ 6:08PM
Source : Dow Jones News
Stock : Sunedison, Inc. (PN) (SUNEQ)
Quote : 0.0533  0.00275 (5.44%) @ 5:20PM

JA Solar Buys Solar Tech Firm From Company Run By Chairman

JA Solar Holdings, Co., Ltd. ADS, Each Representing Five Ordinary Shares (MM) (NASDAQ:JASO)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more JA Solar Holdings, Co., Ltd. ADS, Each Representing Five Ordinary Shares (MM) Charts.
   DOW JONES NEWSWIRES 
 

JA Solar Holdings Co. (JASO) agreed to buy a solar-technology company for $29.3 million in cash from a company controlled by its chairman.

The Chinese solar-cell maker said it would buy Shanghai Jinglong Solar Technology Co. from Ningjin Jinglong PV Investment Co., which is controlled by JA Solar Chairman Baofang Jin.

The purchased company, Shanghai Jinglong, owns land, building and plants that JA Solar is already leasing for its module production in the Fengxian district of Shanghai. The deal, for 199 million Chinese yuan ($29.3 million), will expand JA's manufacturing operation with 206,590 square meters of land and 58,706 square meters of buildings and related facilities.

In quarterly results released in May, the company swung to a profit as volumes rose more than anticipated and revenue jumped.

Earlier Tuesday, JA Solar said it won a supply contract for silicon wafer maker MEMC Electronic Materials Inc. (WFR) through 2012, which boosted its American despositary shares. Financial details of that deal weren't disclosed.

JA Solar ADSs were down 0.8% at $4.53 in after-hours trading, after it had risen 5.3% in the regular session.

-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com

 
 



Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.