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Motech Industries Inc. has signed
an agreement to acquire GE Energy's Delaware solar module assembly
operation. The plant, which is located in Newark, Del., assembles
crystalline silicon-based photovoltaic modules. The plant currently
employs 75 people.
With the acquisition, Motech will be granted
the rights to use GE Energy's module trademark for two years. In
addition, Motech will assume the responsibility of providing warranty
services to GE's existing module clients.
Motech has been a
supplier of solar cells to GE Energy for the past four years, the
companies note. The transaction is subject to customary closing
conditions and is expected to close in early January 2010.
