Saint-Gobain to Make Solar Panels in South Korea

Oct. 11, 2010
Joint venture with Hyundai Avancis

Construction materials group Saint-Gobain said on Oct. 11 that it would build a solar panel plant in South Korea with Hyundai Heavy Industries, one of the country's biggest companies.

The investment, for which no figure was given, will be made via an equally-owned joint venture, Hyundai Avancis, which will run a plant capable of turning out solar panels with an annual power rating of 100 Megawatts -- enough to supply a town of 15,000 people.

Saint-Gobain's Avancis unit operates a solar panel plant in Germany and is building another one there.

The South Korean factory should come on line in second quarter 2012 and Saint-Gobain said that the investment significantly accelerates its solar energy program.

Copyright Agence France-Presse, 2010

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