Savosolar teams up with Jiangsu Holly to enter Chinese market

Finnish solar thermal systems supplier Savosolar Oyj will enter the Chinese market through a newly-signed partnership agreement with a subsidiary of diversified manufacturer and trader Jiangsu Holly Corp (SHA:600128).

The two parties have agreed for Jiangsu Holly Environmental Technology Industrial Co Ltd to sell and deliver solar thermal systems in China using Savosolar’s technology.

Jari Varjotie, CEO of Savosolar, commented that “Jiangsu Holly has extremely good connections throughout China and especially in their home province Jiangsu, which will prove an asset when tapping into potential projects and acquiring customers.” He noted that the Chinese company has already established a team for Savosolar's business, having worked on this partnership with the Finnish supplier for some time now.

Savosolar’s current CFO, Raul Ikonen, will become the company’s country manager in China and will be tasked with initiating the partnership with Jiangsu Holly and implementing Savosolar’s local strategy. Ikonen will assume the new position in May, when a new finance head will be appointed. Savosolar is currently in the search for a new CFO, it said.

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