Tongwei Aims to Acquire Domestic Rival to Address Polysilicon Oversupply

Chinese polysilicon manufacturer Tongwei is set to acquire a smaller domestic competitor in an effort to tackle the persistent oversupply in the solar-panel material market. Bloomberg posted on X, highlighting the strategic move by Tongwei to consolidate its position in the industry. The acquisition is part of a broader trend among companies seeking to streamline operations and enhance efficiency amid fluctuating market conditions. This development reflects the ongoing challenges faced by the solar industry, as manufacturers strive to balance production with demand. Tongwei's decision underscores the importance of strategic mergers and acquisitions in addressing market imbalances and fostering sustainable growth.