Chinese Company Eyes USA Polysilicon Manufacturing

U.S.-based Wells Fargo & Company signed a strategic cooperation agreement last week with China's Baoding Tianwei Group focused on the development and building of solar power products in the United States.

The agreement includes potential financial support for Hawaii-based Hoku Corporation, a subsidiary of Tianwei. Hoku's subsidiary is building a polysilicon manufacturing facility in the U.S. state of Idaho that is expected to eventually create 500 jobs in the United States and provide environmentally friendly products worldwide.

A signing ceremony, held in conjunction with the visit to the United States by Chinese President Hu Jintao, was held January 18 in North Carolina and was attended by representatives of both companies.

Specific financial terms were not disclosed.

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