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Moser Baer unit buys stake in Slovenian co

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CIOL Bureau
New Update

MUMBAI: Optical storage device maker Moser Baer India Ltd. said on Saturday its unit had bought a 40 percent stake in Slovenia-based Solarvalue Proizvodnja d.d. from Solarvalue AG.

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Financial details were not disclosed.

"The acquisition is part of our objectives to access high quality solar grade silicon at competitive pricing," Ravi Khanna, chief executive of Moser Baer Photo Voltaic, the unit that is acquiring the stake, said in a statement to the stock exchange.

Solarvalue Proizvodnja is scaling up its solar grade silicon capacity to 4,400 tonnes by 2008-end, Moser Baer said.

Last month Moser Baer said it would acquire Philips Electronics' unit, OM&T B.V., for an undisclosed sum. Last year, Moser Baer Photo Voltaic acquired a minority stake in California-based photo voltaic firm Stion Corp.

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