Solon AG has joint ventured with Econcern of the Netherlands to form SOL Holdings AG, a company that will set up silicon production facilities in France. It will be engaged in solar polysilicon, at a price tag of about $400 Million. The polysilicon factory is expected to be operational by 2008.

Yet another example of consolidation in the PV market. We are looking at companies here that are seeing long-term growth opportunities in the solar cell manufacturing sector, very clearly.