JA Solar Holdings Co., Ltd. (NASDAQ: JASO) and MEMC Electronic Materials Inc. (NYSE: WFR) are offering some positive support to each other after announcing a joint venture agreement. The J-V agreement is between JA Solar and MEMC’s affiliate called MEMC Singapore and it will build and operate a solar cell production facility in China. The joint venture will be a 50/50 partnership between JA Solar and MEMC Singapore.
In Phase One, the J-V will build a production facility with a capacity of 250 megawatts of photovoltaic cells. The production facility will be located at JA Solar’s Yangzhou site and is expected to begin commercial production in the second half of 2011. In later phases, total production capacity may be expanded up to 1GW.
So far this is being viewed as more of a win for JA Solar as its shares are higher. Shares are up 1.7% at $7.12 and against a 52-week range of $4.22 to $10.24. MEMC Electronic Materials has not yet traded after a close of $12.95 on Friday against a 52-week range of $9.19 to $16.99.
In the past this might have caused more reaction in the share prices. That was then, this is now.
JON C. OGG
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
