|Ecotech acquired Hunan Zhongtian Electric Power Technology Development Co., Ltd.(2011.04.30)||<< Back|
Ecotech Environmental Technology Ltd. signed an agreement with Hunan Electric Power Design Institute to acquire its subsidiary, Hunan Zhongtian Electric Power Technology Development Co., Ltd. in April of 2011. The company was renamed “OSAC New Energy (Hunan) Co., Ltd.” at the shareholder meeting. Based on need of strategic development of both companies, Ecotech and Opel Solar Asia Ltd. (the joint venture between OPEL Solar Inc. in U.S. and Ecotech based in Hong Kong) have made a capital injection, and Hunan Electric Power Design Institute holds shares, to jointly develop new energy enterprise.
“Through the acquisition, OSAC New Energy will effectively integrate R&D capacity in photovoltaic and LED system of the joint venture between Hong Kong and U.S. companies. It can also enhance electric power system design and construction strengths of Hunan Electric Power Design Institute. We will work hand in hand to develop the new energy market in China and to provide customers with higher technology and better quality products and systems effectively” said Mr. Michael Lam, Executive President and General Manager of OSAC New Energy.
Hunan Zhongtian Electric Power Technology Development Co., Ltd. is a subsidiary of Hunan Electric Power Design Institute. It is dedicated to R&D, manufacturing and servicing in electric power system products. It has been in the leading position in electric power industry.
Ecotech Environmental Technology Ltd. specializes in R&D, manufacturing and marketing in solar energy system, LED lighting, solar stud, complementary wind-solar power street light system. The company also focuses on designing, construction and operation of solar photovoltaic station - high concentrating photovoltaic (HCPV), building integrated photovoltaic (BIPV), and building applied photovoltaic (BAPV). As a newly established enterprise, OSAC New Energy (Hunan) Co., Ltd. will put extra effort on running the existing businesses in order to become R&D and manufacturing centre of Ecotech in China.