Jul 12nd, 2017
NSP Successfully Sold Zhunan FAB with NT$ 1,252 million
Neo Solar Power Corporation ("NSP", or "the Company", publicly listed on Taiwan Stock Exchange, Ticker: 3576 TT), a world-class leading integrated PV solution provider with expertise in high conversion efficiency products and global solar system development capabilities in Hsinchu, Taiwan, announced that the Company has successfully sold its Zhunan FAB to Maxchip Electronics Corporation through the open bidding process. The total transaction amount is near NT$1,252 million.
NSP Zhunan FAB was obtained through the merger with DelSolar Co. Ltd. in 2013. The FAB was original used for manufacturing multicrystalline solar cells and modules. However, in responding to the Company's business transformation of exiting multicrystalline solar cell market and focusing on monocrystalline PERC product, lowering operating expense and activating idle assets, NSP has gained Board approval earlier to sell Zhunan FAB through open bidding. The whole building was designed under energy saving concept and has won LEED-NC (Leadership in Energy and Environmental Design - New Construction) from the U.S. Green Building Council. It also equipped with sound facilities for buyer to start production immediately. The buyer can also enjoy the land leasing advantage from Zhunan Science Park as well. Therefore this open bidding has attracted many bidders and Maxchip Electronics has won the bid in the end.
After selling Zhunan FAB, NSP's Taiwan manufacturing sites will be centralized in Hsinchu Science Park and Tainan Technology Industrial Park and focusing on manufacturing high efficiency solar cells and modules. In sum, this transaction helps NSP to activate idle assets, increase cash inflow, and strengthen the balance sheet to expedite the emersion of business transformation benefit.
About Neo Solar Power Corporation (3576 TT) (NSP)
Founded in 2005 by Dr. Quincy Lin (former Senior VP of TSMC) and Dr. Sam Hong (former Director of ITRI Research Division), Neo Solar Power Corporation (NSP) is a leading manufacturer of high performance and high quality solar cells and modules. With core competitive advantages in quality, technology and customer service, NSP became the world's largest merchant solar cell manufacturer by volume in 2013. After selling DelSolar to NSP, Delta Electronics (2308, TT) became the biggest shareholder of NSP with a 19% holding. Leveraging current leading position in solar cell technology, NSP will further expand into the global solar systems businesses, aiming to become the leading solar system integrator in the world. For more information, please visit the company's website at www.nsp.com
For further information, please contact:
Ms. Shirley Chen
Investor Relations Dept.
Phone: +886-3-578-0011 ext. 20626
12/07/2017 Dissemination of a Financial Press Release, transmitted by EQS Group.
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