SHANGHAI, CHINA: Solarfun Power Holdings Co. Ltd, a vertically integrated manufacturer of silicon ingots, wafers and photovoltaic (PV) cells and modules in China, announced that its Board of Directors approved its name change to Hanwha Solar One.
The name change reflects the Company's ongoing efforts to strengthen its brand worldwide and the strategic business partnership with Hanwha Chemical, which currently owns 49.99 percent of Solarfun.
Dr Peter Xie, president and CEO, commented: "Following Hanwha's strategic investment in Solarfun in mid-September, we have worked closely together to develop a long-term strategy to grow our company into a top three module manufacturer by 2015. This new name reflects the cooperation between the two companies and our mutual commitment to further growth.
"The complementary skill sets between the two companies will lead to a 'virtual' vertically-integrated business model, under which we will be able to lower our production costs, increase product quality and innovation, and expand our customer base globally."