L R AS Published on Tuesday 22 March 2022 - n° 398 - Categories:miscellaneous financial
American FTC Solar buys a Chinese company
US tracker manufacturer FTC Solar has reported an excellent fourth quarter, reducing its annual loss to $107 million. The American company has reached an agreement to acquire Chinese tracking supplier
HX Tracker for $4.3 million and 1.4 million shares. HX Tracker would have a pipeline of around 20 GW and would produce low-steel trackers, well suited to international markets with low labour costs. This product is complementary to that of FTC Solar.
PV Tech of 15 March 2022
Editor's note: What is FTC Solar going to do in the Chinese mess? It may well have some good products, but times are no longer good between the two governments!
