Motech To Purchase GE’s Delaware PV Module Assembly Plant

Motech Industries Inc. this week signed an agreement to acquire GE Energy’s Delaware solar module assembly operation, just months after GE said that it would halt production at the facility in 2010. The plant, which is located in Newark, Delaware assembles crystalline silicon based photovoltaic modules and currently employs 75 people.

As part of 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 to provide warranty services to GE’s existing module clients.

“We are pleased to announce this agreement to purchase the solar module operation from GE Energy” said Dr. Simon Tsuo, chairman and CEO of Motech. “We will do our best to maintain the high quality and safety standards GE has established at this factory.”

The transaction is subject to customary closing conditions and is expected to close in early January 2010. The companies said that the agreement is built on the foundation of an existing relationship between Motech and GE Energy where Motech has been a supplier of solar cells to GE Energy for the past four years.

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