(RTTNews) - TOYO Co., Ltd. (TOYO), a Japanese solar equipment and devices maker, said on Monday that it has acquired the remaining 24.99% membership interest in its U.S. subsidiary, TOYO Solar LLC.
TOYO Solar LLC is now a wholly owned subsidiary of TOYO.
Junsei Ryu, CEO of TOYO, said: "This acquisition marks a key milestone in our U.S. growth strategy. Full ownership of TOYO Solar LLC strengthens our operational control, aligns our long-term interests, and reinforces our commitment to delivering American-made solar solutions at scale."
This transaction follows TOYO's recent strategic expansion into U.S.-based manufacturing and plans to strengthen its presence in the American solar supply chain.
TOYO Solar LLC is currently advancing the development of a 2.5GW solar module manufacturing facility in Texas.
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