LG Electronics to enter solar cell business
LG Electronics plans to buy German solar energy system solar cell manufacturer Conergy department.
LG Electronics told Reuters, LG looking to expand into solar cell business, and several acquisitions in the study feasible direction.
LG Electronics to another company, earlier told Reuters the company has not finalized any acquisition action.
LG chief executive in May announced that the company intends to enter the solar business, and that alone is assessed to invest or acquire another company.
LG and Samsung has always been to prevent the acquisition from outside, while the tendency to self-growth. LG on the back for the acquisition of overseas acquisitions in 1995, the U.S. electronics manufacturers Zenith.
South Korea's Business Daily Thursday reported that, Conergy's sector acquisition will be finalized, at least in this case the amount of 200 billion won (183.3 million U.S. dollars) or so.
Report saying, LG has assigned specific roles related enterprises to enter the solar business.
Conergy ongoing restructuring, as fast as to create cash cope positive growth plans now to reduce non-core operations to focus on solar photovoltaic business. The company on Sept. 9 that the cause of wind turbines sold to U.S. private equity investment group based Jinhua Ping (Warburg Pincus).
Dynetek sign R & D fuel cell vehicle hydrogen storage systems contract
Dynetek Corporation (DynetekIndustriesLtd.) announced the signing of R & D of fuel cell vehicles with hydrogen storage system. Dynetek company to provide compressed natural gas and compressed hydrogen cylinders with light.
R & D is mainly to improve the cylinder weight, performance and cost. Two international automotive manufacturers to provide 50% funding of the project, the project total budget of 75 million dollars.
The contract calls for completion by the end of 2009 R & D, prototyping, prototyping and design verification testing.
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