8 January 2018
China National Building Materials acquires minority stake in Singulus
Singulus Technologies AG of Kahl am Main, Germany (which makes production equipment for the optical disc and solar sectors) says that Beijing-based China National Building Materials (CNBM), has acquired a minority interest of about 1.5 million shares (16.8%) of its existing 8.9 million issued shares from external shareholders.
Just last November Singulus signed a contract with the “subsidiary of a major listed energy company and solar module manufacturer in China” to supply several TENUIS II systems for wet-chemical coating processing in copper indium gallium diselenide (CIGS) solar module production.
The corresponding legally binding purchase agreements have been signed, and a transfer of ownership of the shares to CNBM will take place soon, after certain conditions have been fulfilled. For example, the acquisition of the shares remains to be approved by Chinese government agencies and the relevant competition authorities. It is expected that the approvals will be granted over the coming months.