Applied Materials to Buy Solar Company

Chip manufacturing equipment maker Applied Materials Inc. said Tuesday it agreed to buy privately held HCT Shaping Systems SA for 583 million Swiss francs ($475 million).

Switzerland-based HCT makes precision wafering systems used mainly to make crystalline silicon substrates for the solar industry. Applied said the deal is part of its plan to help its customers reduce the cost of photovoltaic cell manufacturing and make solar energy more competitive with grid electricity. Photovoltaic cells convert sunlight into electricity.

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- Posted: 2007-06-26 11:06:27

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