CIGS manufacturer Avancis snapped up by Chinese company CNBM
The Chinese building materials and glass Group CNBM (China National Building Materials Group Corporation), has completed the acquisition of Avancis, the German manufacturer of CIGS photovoltaic modules. Preparations to restart production in Torgau will be initiated immediately.
With the completion of the acquisition, the German PV manufacturer is now a wholly owned subsidiary of CNBM headed by Franz Karg (CEO) and Oliver Just (CFO). The company will continue to operate under the name Avancis and produce and distribute PV modules under the PowerMax brand.
CNBM stated that preparations to restart an improved production process at the 100MW plant in Torgau are to begin immediately. This will include new hires along the lines of the ramp-up plan. At the same time the Tech Center in Torgau and the R&D centre in Munich will continue their research, development and small series production. The German pioneer in CIGS technology is focused on the production and continuous improvement of PowerMax SMART modules to be used for ground mounted systems and in the building industry.
A large majority of employees of Avancis has accepted transfer to the new company which has now been acquired by CNBM. Avancis product guarantees remain unchanged for all current and new customers.
