Liaoning Hi-Tech Energy Group, a private new energy company listed on NASDAQ, has acquired a 100% stake in Evatech, a solar energy company in Japan, for USD 49.9 million. The Liaoning-based company will purchase Evatech’s research and development centres in Tokyo and Kyoto. The company also plans to move Evatech’s solar cell production line from Japan to China, which will help reduce costs whilst utilising Evatech’s core technology in the solar energy sector.

China International Business – Nov 2009

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