Oct 16, 2013 - German solar cells maker Hanwha Q-Cells said today it aims to post positive financial figures in 2014 after achieving good results in its first year of operation.
South Korean Hanwha Group took over insolvent German solar panel maker Q-Cells last October. According to Hanwha Q-Cells' CEO Charles Kim, the company's strategy for the first year of operation after the acquisition has proved to be successful.
The company has increased the production capacity at its solar cells factory in Malaysia by 100 MW to 900 MW reaching a total production capacity of 1.1 GW annually together with its manufacturing plant in Germany.
In addition, Hanwha Q-Cells has benefited from the created synergies in the field of sales networks following the takeover, mainly profiting on the Japanese market. The company operates globally with offices in Germany, Malaysia, the USA, South Korea, Japan and Australia as of April 2013.