Yingli Green Energy (YGE) Acquires Polysilicon Producer

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09:32:21 am on January 8, 2009

Yingli Green Energy announced last week that it just acquired a polysilicon producer to further its vertical integration strategy. Negotiations are complete, and Yingli now owns Cyber Power Group Limited, the parent company of Fine Silicon Co, Ltd. Yingli paid $77.6 million for the company, which is expected to begin producing polysilicon in the second half of this year. According to JLM Pacific Epoch, Yingli chief financial officer Zongwei Li advised that this purchase is significant because "the acquisition expands Yingli’s production capacity to include solar-grade polysilicon."

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