Jetion Solar Business Soars

29 September 2009 (Last Updated September 29th, 2009 18:30)

Solar cells and modules manufacturer Jetion Solar Holdings will boost production capacity next year due to a rapid increase in business, the company has announced. The China-based company said it was experiencing a strong recovery in its markets after first-half profit slumped 75%, lift

Solar cells and modules manufacturer Jetion Solar Holdings will boost production capacity next year due to a rapid increase in business, the company has announced.

The China-based company said it was experiencing a strong recovery in its markets after first-half profit slumped 75%, lifting its shares yesterday.

Jetion plans to increase solar cell production capacity from 100MW to 150MW and the module production capacity from 60MW to 150MW.

Jetion CEO and Chairman Gabriel Kow said that expansion is estimated to cost $32m.

Solar cell output witnessed a 59% increase to 41.7MW in H1 2009 compared to 26.3MW in H1 2008, while solar module output reported a 42% decline to 11.3MW compared to 19.4MW in H1 2008.

Jetion reported a $2.4m post-tax profit for the six months ended 30th June, 2009 compared to $9.7m profit for the same period in 2008.