Industry News
BCAK JA Solar purchases 100% of Shanghai Jinglong Solar shares
Date: 2010-07-08

In a move approved by both companies' boards, JA Solar Holdings has signed an agreement where it will purchase 100% of Shanghai Jinglong Solar Technology shares from Ningjin Jinglong PV Investment, a company controlled by Baofang Jin, chairman of JA Solar.

Shanghai Jinglong owns the land, building and facility that are being leased by JA Solar in Fengxian, Shanghai. With this new agreement, JA Solar will gain around 51 acres of land and over 630,000 square feet of buildings and related materials. JA Solar will acquire Shanghai Jinglong for a cash consideration of $29.3 million.