Applied Materials Acquires Advent Solar - Hopes to Cut Solar Panel Production Cost Below $1/Watt
The world's largest chip equipment maker Applied Materials said on Friday that it acquired Advent Solar in a deal it hopes will cut costs in its solar business. Applied Materials is relying on its solar equipment arm to boost growth as its traditional chip business falters, competing with Swiss technology group Oerlikon's solar arm. The company believes the acquisition will help them cut the production costs for its solar panels below $1 per watt in three years.
[Read More via Reuters]