Oerlikon completes the sale of its solar segment to Tokyo Electron

(Nanowerk News) Oerlikon announces the closing of the  sale of its Solar business to Tokyo Electron Ltd. (TEL). The contract to divest  the Solar business was signed on March 2, 2012. The transaction was structured  as a cash deal in which TEL acquires 100 % of the shares of Oerlikon Solar and  closed in line with the original expectations of the signed agreement resulting  in cash proceeds for Oerlikon amounting to CHF 250 million.

“The closing of this transaction marks another important step in  the optimization of our business portfolio. TEL, as a strategic buyer and  leading supplier of semiconductor production equipment, is well suited to  utilize the advantages of the thin film silicon solar technology in a  sustainable and successful manner”, said Dr. Michael Buscher, CEO of the  Oerlikon Group.

Hiroshi Takenaka, President and CEO of TEL, commented, “We can  look forward to further growth in demand for thin-film silicon photovoltaic  panels, particularly for large-scale power generation, as a result of their  superiority in actual energy generation in regions with abundant sunlight and  the cost advantages. Oerlikon Solar has world-leading technology in this field  relating to conversion efficiency and manufacturing costs. By combining its  technologies with the advanced technologies that TEL has nurtured in the  semiconductor production equipment business, we will be able to develop more  competitive devices. This acquisition is an undertaking intended to establish  the photovoltaic panel (PV) production equipment business as a new core business  that will support TEL’s growth strategy.”

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