Manz AG Enters into Strategic Cooperation with Shanghai Electric Group Co., Ltd. and Shenhua Group Co., Ltd
January 24, 2017
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Manz AG has entered into a strategic cooperation with Shanghai Electric Group Co. Ltd. and Shenhua Group Co. Ltd. in the field of CIGS thin-film technology. In the course of that, Manz AG received two bulk orders, one for a CIGS production line with a capacity of 306 MW and another one for a CIGS R&D line with 44 MW capacities. The order for the R&D line has been placed by a newly established R&D Joint Venture, the order for the CIGS turnkey mass production line (CIGSfab) by a newly established module joint venture of affiliated subsidiaries of Shenhua Group and Shanghai Electric. This CIGSfab, which will be the largest CIGS production line in China and the second largest worldwide, will be built in Chongqing. The installation will start in 2017 and will be finished in the following year 2018. The order volume totals EUR 263 million and will affect revenues and earnings during the financial years 2017 and 2018. Due to corresponding down payment agreements, these orders will be realized cash flow positive. Both, the cooperation as well as the orders received, form the basis for a profitable corporate development of Manz AG and prove the technological and cost leadership of CIGS thin-film technology.
Manz AG is a Germany-based company engaged in manufacturing high-tech equipment. The Company's business activities are divided into five segments: Solar, Electronics, Energy Storage, Contract Manufacturing, and Service. The Company specializes in automation, vision and metrology, laser processing, wet chemistry, and roll-to-roll processes. It offers manufacturers and their suppliers manufacturing solutions in the areas of photovoltaics, electronics and lithium-ion battery technology. The Company's product portfolio includes both customer-specific developments and standardized machines and modules that can be linked together to form individual system solutions. The Company operates globally, with development and production facilities in Germany, Slovakia, Hungary, Italy, China and Taiwan, as well as sales and service branches in the United States and India.
MANZ AG 
