In order to integrate solar business resources so as to improve performance and strengthen competitiveness, Sino-American Silicon Products Inc. (5483 TT, hereinafter referred to as SAS) will merge Sinosolar Corp. (hereinafter referred to as Sinosolar). The merger is approved by BOD of both companies on May 7 2013. The payment for the merger is NT$7.05 per share in cash and it is expected that the total cash paid for the merger is NT$809,858,542. SAS is the existing company and Sinosolar is the extinguished company. After the merger, the company plans remain as Sino-American Silicon Products Inc. The merger closing date is tentatively scheduled on Aug 1, 2013. Yuanta Securities Corp. is the financial advisor of this merger.
SAS is the professional solar silicon wafer manufacturer listed in OTC and invested semiconductor business and sapphire business. The original plan of Sinosolar is the solar energy company that vertically integrates the solar wafer to solar cell. Encountered the standstill in the solar market, Sinosolar invested NT$2 billion which original use is for factory setting up in mono solar cell manufacturer Sunrise Global Solar Energy Co., Ltd. (5217 TT, hereinafter referred to Sunrise). Through the investment of Sunrise, it can more quickly achieve the effect of vertical integration.
Sunrise is one of the few domestic manufacturers that produces mono high efficiency solar cells. The technical threshold of mono cells is higher than multi cells and Sunrise owned certain technical advantages. Sunrise signed a joint R & D cooperation scheme with internationally renowned academic institutions, international equipment manufacturers, raw material suppliers, whether products or cost control has a good performance. The technology of Sunrise is leading the industry especially the Celco cells technology that enhances the conversion efficiency of P-type mono solar cells to more than 20.2%. The modules installed that use Celco cells have less power loss and the highest power output generation. The technology of Sunrise is comparable with the international companies and Sunrise maintains many international customers
Recent solar market gradually improved and the worst-case scenario of the industry had been in the past. SAS wants to make differentiation with other manufacturers rather than rely on economies of scale to compete. The high-conversion efficiency of products is the characteristics of SAS and Sunrise is also a good high conversion efficiency solar cell manufacturers. SAS directly and indirectly owned 28.74% shares of Sunrise now. After the merger, SAS will directly own 47.48% shares of Sunrise. Through increasing the influence of Sunrise’s operational decisions, the two sides have further cooperation relationship and achieve the objective of vertical integration. SAS can also meet the needs of customers at different levels. Overall, by the benefits generated after the merger, SAS will enhance the international competitiveness of the company and create a unique position in the market and finally create greater benefits for shareholders and employees.
中美矽晶製品股份有限公司
發言人：戴上智 財務經理
電話：03-577-2233 EXT: 337
公司網址：https://www.saswafer.com
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