Kyocera Solar Sells Argentine Operations

July 04, 2002 by Jeff Shepard

Kyocera Solar Inc. (Scottsdale, AZ) announced the sale of Kyocera Solar Argentina S.A. (Buenos Aires, Argentina), which includes a manufacturing operation in La Rioja, Argentina, to Fernando Salgado, a long-time employee and division manager. Terms of the sale were not disclosed.

Salgado has renamed the company Solartec S.A. and has entered into supply/purchase and license agreements with Kyocera Solar. Under the terms of these agreements, Solartec will continue to market Kyocera Solar products and manufacture specialty products for Kyocera Solar.

"The sale of Kyocera Solar Argentina S.A. presents the most effective way to continue to develop our business in Argentina," said Kyocera Solar President Doug Allday. "We believe the interests of both Kyocera and the employees of Solartec will be best served under this new relationship. We look forward to a mutually beneficial future and wish Mr. Salgado and Solartec's employees continued success."