Hanwha Group Launches Hanwha Q CELLS
New Synergies Establish the Hanwha Group as a Top Three Global Solar Company
[Bitterfeld-Wolfen, 24 October, 2012] Hanwha Group, a top 10 Korean business group and Fortune Global 500 company with businesses in manufacturing, construction, finance, retail and resorts, today launched Hanwha Q Cells. The launch marks the completion of the acquisition of German solar company Q Cells, one of the worlds’ largest solar cell manufacturers and a leading photovoltaics company. Mr. Charles Kim will lead Hanwha Q Cells as CEO, joining the company from Hanwha SolarOne. Mr. Min Su Kim will replace Mr. Charles Kim as the president of Hanwha SolarOne and joins the company from Hanwha Group.
The launch of Hanwha Q Cells establishes Hanwha as the third largest solar manufacturer in the world. Hanwha’s 2.3 GW of manufacturing capacity is distributed across Germany, Malaysia and China, a competitive advantage to supply any region in the world, free of trade sanctions. “The synergies between Q.CELLS and Hanwha offer a rare pportunity to quickly build a world leading solar company,” said Charles Kim, CEO of Hanwha Q CELLS. “The Q.CELLS track record of quality, innovation and excellence align with Hanwha Group’s financial resources, manufacturing expertise and global customer network to form one of the strongest solar companies in the world, ready to lead the industry into a new era.”
The launch of Hanwha Q CELLS follows strategic investments by the Hanwha Group to broaden solar offerings to the system and accelerate technology developments ranging from advanced cell technology to system optimization for lowering LCOE (Levelized Cost of Electricity), EPC (Engineering, Procurement and Construction), and project development capabilities. These strategic investments include innovative companies like Crystal Solar, 1366 Technologies, tenKsolar, Silent Power and OneRoof Energy. Hanwha Group also established Hanwha SolarEnergy in 2011 to deliver integrated solar power plant solutions encompassing development, construction, operation and project financing, in addition to the recently opened €10 million advanced R&D center in Silicon Valley, Calif., U.S. in April 2012. With the launch of Hanwha Q.Cells, Hanwha now has four R&D centers around the world.
“With a 60-year track record of industrial leadership, Hanwha Group is committed to becoming a global leader in addressing the energy challenges of a dynamic global conomy,” said Ki-Joon Hong, CEO of Hanwha SolarOne and vice chairman of Hanwha Chemical. “Our commitment to solar extends beyond building a successful business. We are dedicated to making solar the most reliable source of energy on Earth.”
Hanwha Group acquired the following assets from Q.CELLS:
· Headquarters, R&D center and administrative operations in Germany
· 200 MW cell and 120 MW module manufacturing facilities in Germany
· 800 MW cell manufacturing facility in Malaysia
· Entities in the U.S., Australia and Japan
· 34 patents
· 1,225 employees
The launch was celebrated today at an event in Bitterfeld-Wolfen, Germany.
For more information:
- Hanwha Presseservice
- A&R GmbH
- Landshuter Allee 10
- D-80637 München
- Tel: +49 (0)89 413 01 753
- Email: HanwhaGermany@arpartners.com
- John Xi
- PR & Advertising Manager Hanwha SolarOne
- Tel: +86 21 385 215 21
- Email: john.xi@hanwha-solarone.com
- Hanwha Q CELLS
- OT Thalheim
- Sonnenalle 17-21
- D-06766 Bitterfeld-Wolfen
- Fax: +49 (0)3494 6699 10000
For more information:
- Hanwha Q CELLS Corporate Communications
- Jochen Endle
- Tel: +49 (0)3494 6699 10118
- Email: j.endle@q-cells.com
Hanwha Qcells
Hanwha Qcells is one of the world’s leading clean energy companies, recognized for its established reputation as a manufacturer of high-performance, high-quality solar cells and modules, portfolio of intelligent storage systems, and growing international pipeline of large-scale renewable energy projects. Hanwha Qcells also provides renewable electricity retail services and packages to end customers the world over. The company is headquartered in Seoul, South Korea (Global Executive HQ), Thalheim, Germany (Technology & Innovation HQ) and San Francisco, USA (Energy Storage/Inverter & Software HQ) with its diverse international manufacturing facilities in the U.S., Malaysia, China, and South Korea. Hanwha Qcells strives to offer completely clean energy through the full spectrum of photovoltaic products, storage solutions, renewable electricity contracting and large-scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, Hanwha Qcells provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets.
For more information, visit:
www.qcells.com/us/
Hanwha SolarOne
Hanwha SolarOne Co., Ltd. (NASDAQ: HSOL) is one of the top 10 photovoltaic module manufacturers in the world, providing cost-competitive, high quality PV modules. It is a flagship company of Hanwha Group, one of the largest business enterprises in South Korea. Hanwha SolarOne serves the utility, commercial, government and residential markets through a growing network of third-party distributors, OEM manufacturers and system integrators. The company maintains a strong presence worldwide, with a global business network spanning Europe, North America, Asia, South America, Africa and the Middle East. As a responsible company committed to sustainability, Hanwha SolarOne is an active member of the PV Cycle take-back and recycling program.
For more information, visit:
www.qcells.com/us/
Hanwha Group
Founded in 1952, Hanwha has grown quickly by anticipating and responding to changing business environments with a balanced business portfolio that includes energy & materials, aerospace, finance and retail & services. Our expertise and synergy in key areas have catapulted us into the seventh-largest business in South Korea and a Fortune Global 500 company. Hanwha continues to grow rapidly as we strive to pursue global leadership in all of our businesses. We are building a robust foundation for sustainable development and a brighter future for everyone.
For more information, visit:
www.hanwha.com
Related Affiliates
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Hanwha Qcells
With world-class technology and high quality, Hanwha Qcells captured the biggest market share in major markets including Germany, the UK, South Korea, and Japan.
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Hanwha Chemical
Established in 1965, Hanwha Chemical is a total solutions chemical company with streamlined production systems for polyethylene (PE), polyvinyl chloride (PVC), and chlor-alkali (CA). As South Korea’s leading petrochemical company, we dominate the nation’s chemical industry with high-quality PVC, CA, and linear low-density polyethylene (LLDPE) that we offer at competitive prices.
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