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Hanwha Chemical Acquires Chinese Photovoltaics Firm Solarfun (Updated)

4:14 AM MDT | August 3, 2010 | Natasha Alperowicz

Hanwha Chemical (Seoul) is acquiring a large stake in Solarfun Power Holdings (Qidong, China) through three separate transactions. Solarfun, listed on Nasdaq, is a vertically integrated producer of silicon ingots, wafers and photovoltaic cells and modules. It has annual sales of approximately $800 million to $900 million and employs 9,500 people. Hanwha is buying 36.5 million ordinary shares in Solarfun for a total of $78 million. Hanwha has also entered into two additional transactions with private companies to buy Solarfun shares. Good Energies (Zug...

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