6 Billion Yuan! Flat Glass to Invest in High-Transparency Panel Project for Renewable Energy Products

PVTIME – Flat Glass Group Co., Ltd. (601865.SH) announced on June 1st to raise a total of no more than 6 billion yuan via the non-public issuance of A shares, which will be used for the high-transparency panel project with an annual output of 1.95 million MT for new energy products, an ultra thin and ultra high-transparency panel project with an annual output of 1.50 million MT for new energy products, and to supplement working capital.

These two particular projects are expected to take the benefits of the local policies for forming PV industry chain, promoting the development of the company and its layout. Flat Glass stated that the market competition has become increasingly fierce as many companies entering the PV glass industry. To enhance its competitiveness as one of the capital-intensive manufactures, the company has to operate in large scale to reduce its operating costs and resist the risks from market volatility.