Trony Solar Holdings Co. (2468), a Chinese thin-film solar panel maker, is in talks to buy Energy Conversion Devices Inc. (ENERQ)’s United Solar Ovonic Corp. after a planned auction of the unit was canceled.
Trony is negotiating with Energy Conversion, the Shenzhen, China-based company said today in a statement. The Chinese producer took part in the auction through its True Solar USA Inc. unit, it said on April 18, before the sale was abandoned.
Energy Conversion, which filed for bankruptcy protection in February, isn’t able to comment while a sale is proceeding, Kim Paulson, a spokeswoman for the Auburn Hills, Michigan-based company, said today in an interview.
Energy Conversion canceled the auction of its thin-film solar panel unit on May 7 after failing to garner acceptable bids, and said it would fire 300 workers.
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