Japan firm shifts from housing fasteners to PV modules

Japan Power Fastening reportedly is seeking better growth outside its niche of selling fasteners and screws to the construction-industry by forming a partnership to get into solar PV modules.

August 13, 2009 – Japan Power Fastening is seeking better growth outside its niche of selling fasteners and screws to the construction-industry by forming a partnership to get into solar PV modules, notes the Nikkei Business Daily.

The company, which has taken a hit with declining housing starts and sees little recovery soon, will form a JV with Kaneka Solartech; that firm will supply metal frames, wires, and other parts, and train Japan Fastener workers at the firm’s plant in Hyogo Prefecture to assemble solar modules. Japan Fastener will spend ¥100M (US ~$1.04M) on solar module assembly and inspection capabilities by year-end; finished modules will be delivered back to Kaneka.

Projections for the partnership are 200,000 modules produced in the first year and sales of ¥500M ($5.2M). Later on Japan Fastener hopes to officially copy its core business — fasteners and screws — to module assembly and installation.

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