Taiwan-based solar wafer maker Sino-American Silicon (SAS) expects its solar business to reach breakeven and may obtain profits in the second quarter as market conditions have been improving.
Doris Hsu, president of SAS, stated that since 2012, the firm has took steps integrate the three major businesses. The first step was to acquire the solar wafer business of Japan-based Covalent Materials in mid-2012. The second step was to sell the sapphire business to sapphire substrate maker Crystalwise. Currently, the firm has entered the third step, which is to obtain a 100% stake in Sino Solar, allowing SAS to indirectly own 47.48% shares of solar cell maker Sunrise Global Solar Energy.
Hsu believes solar market conditions will improve due to the anti-dumping and anti-subsidy investigation in Europe and the depreciation of the Japanese Yen. Hsu added that capacity utilization rate has increased to above 60%.
SAS stated that its semiconductor subsidiary, Global Wafer Japan (was Covalent Silicon before the acquisition) saw first-quarter net profits reach NT$431 million (US$14 million).
