South Korean chemical company, Hanwha Chemical Group has agreed to purchase German solar cell manufacturer Q Cells for 55 billion won. Hanwha plans to take over Q Cells subsidiary in Malaysia as well as its German research and production facilities. Q Cells had originally been producing 1.3 gigawatts worth of solar cells, however Hanwha plans to expand this to an annual solar cell production of 2.4 gigawatts. The company had also acquired Solarfun, a Chinese solar cell manufacturer in August last year.
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