OCI, one of the global leaders in polysilicon manufacturing, will acquire Tokuyama’s polysilicon plant in Malaysia in a bid to strengthen its solar power business. The company held a board of directors meeting on April 26 and decided to acquire an 83.5-percent stake in Tokuyama’s polysilicon production unit in Malaysia for US$176 million.
With this acquisition, OCI, which already acquired a 16.5-percent stake in the Malaysian unit back in October 2016, will have the 100-percent stake in the Malaysian plant.
OCI officials said, “The Malaysian plant can be supplied electric power at a lower cost from its adjacent hydraulic power plant. In addition, the plant is located in Malaysia, a country that faces less trade protectionism from the United States and China.”
They added, “This is an opportunity for us to secure another global production base to supply competitive products, as well as to sustain our position in the global solar power market.”