Scheuten and Ritek enters into the world market for thin film solar cells

Following the strategic agreement on silicon modules signed in August between Scheuten, a leading global solar module manufacturer, and Ritek, leading optical disc and OLED producer, both parties decided to take their cooperation a stage further by signing a joint venture agreement at a “Joint Venture Agreement Signing Ceremony” held at the Sheraton Taipei on 14 October 2008. For the Scheuten Group, Mr. Leon Giesen, CEO, and for Scheuten Solar, CEO Mr. Frans van den Heuvel were signatories of the agreement, while the signatory for the Ritek Group was the CEO, Mr. Gordon Yeh. Scheuten & Ritek will set up a joint venture company to manufacture CIGS thin film solar cells, with an initial capital of NT$ 600 million, each party taking a 50% share holding.

The joint venture company will be located at Hsin-Chu in Taiwan. Production facilities for the manufacture of 30MW of solar cells will be in place towards the end of 2008. Capacity will be doubled each year from 2009 to 2010, reaching 120MW by 2010. Production can be increased still further in the light of the future growth of market demand.

Scheuten and Ritek are strategic partners with the same aims. Not only do they have the same approach to future developments in the solar industry, but they have also left their mark on developments in the market and in the field of technology. Scheuten has established a strong customer base and has an excellent track record world-wide as a manufacturer of crystalline silicon solar modules. In addition, Scheuten has also put much effort into the development of advanced thin film CIS solar technology, while Ritek has considerable knowledge of CIGS coatings and the development of appropriate equipment and experience of durable optical media and OLEDs. The fusion of forces in this joint venture will ensure the joint venture’s optimum competitive status.

Mr. Léon Giesen, CEO of Scheuten, said, “Scheuten is a fast-growing international company with two divisions: solar and glass. We put people and customers first. Our combination of solar power and glass in the creation of innovative designs is a unique process and the company’s durable products help to ensure the welfare and health of customers, consumers, suppliers and staff. The essential feature of the Scheuten brand is its focus on energy, sustainability, growth and life”.

Mr. Gordon Yeh, CEO of Ritek Group, said that following the first stage of collaboration with Scheuten on AimCore investment, subsequent strategic collaboration had led to the manufacture of silicon wafer solar cell modules. Thanks to the reciprocal addition of technology, mass production capacity and market knowledge, both parties were able to decide on a third stage of collaboration: a joint venture for the manufacture of thin film CIGS solar cells. The new company will focus on the manufacture of CIGS cells and modules with the aim of achieving a leading position on the world market for CIGS.