LDK buys 70% stake in Italian Sgt

⊙ Our correspondent Chen Qiqiu, the leading producer of Chinese polysilicon, LDK Solar, said yesterday that the company acquired a controlling stake in the Italian solar market's professional system integrator, SGT, this week.　　Thus, the long-term focus on the upstream LDK successfully into the downstream of the Italian photovoltaic market, and then to the "vertical integration" of the development model has taken another important step. After the acquisition is completed, LDK will hold a 70% per cent stake in the Sgt Company. LDK said the investment would help the company develop more photovoltaic projects and strengthen LDK's position in the Italian PV market.　　Sgt will provide PV engineering opportunities and technical support to LDK during the implementation and management of the photovoltaic turnkey project. Peng, chairman and chief executive of LDK, said, "Sgt's management team and staff have demonstrated their strong competitiveness in the PV market and injected rich experience into the PV market." We believe that acquiring the abundant resources of Sgt Company will be an effective and direct tool for LDK to develop the Italian PV market. "Sgt is one of the most experienced Italian system integrators in photovoltaic power generation turnkey projects. The company is headquartered in Milan, Italy, its main business scope throughout Italy, the company focused on the commercialization of solar power and industrialization.