Lasting Success of Leading Metals Manufacturer Creates Strong Foundation for Solar Module Manufacturer Subsidiary

SAN JOSE, Calif.--(BUSINESS WIRE)--On October 27, Boviet Solar USA will celebrate the 30th anniversary of its parent company, Powerway Group Co., Ltd. The success and diversity of the Powerway Group has provided a solid financial foundation and extensive research and manufacturing capacity for its subsidiary businesses, including Boviet Solar USA.

Founded in 1987, Powerway Group is one of the worlds largest suppliers of non-ferrous metal alloys and specialty materials and parts. The company generates in excess of $1.5 billion (U.S.) in annual revenues. The company also has world-class research and development facilities and manufacturing operations, including Boviet Solar Technology Co., Ltd., which maintains a 70,000-square-meter R&D and manufacturing facility in Bac Giang, Vietnam. As part of the Powerway portfolio, Boviet is the largest photovoltaic manufacturer in Vietnam with more than 650 MW of annual manufacturing capacity and more than 700 employees. The facility plans to move to all-PERC solar module manufacturing in 2018.

"Powerway Groups 30th birthday is an important milestone for Boviet Solar," said John Bereckis, president of the Solar Modules division of Boviet Solar USA. "As the solar module industry becomes more commoditized, having the financial and technological backing of a company like Powerway keeps Boviet Solar competitive. Our R&D and manufacturing capabilities allow us to deliver better quality modules with higher power output and better warranties at competitive prices. As the solar market continues to evolve, its quality and warranties that will give vendors an advantage."

Powerway Group is headquartered in Ningbo, China, and manufactures specialty metal alloys, materials, precision electrode wires, and parts made from precious metals. The companys subsidiaries include Powerway Alloy Material Co., Ltd. (listed on the Shanghai Stock Exchange, 601137), Powerway Materialise Co., Ltd., Boway Investment Co., Ltd., Italisa (Vietnam) Co., Ltd., Powerway Alloy Plate and Strip Co., Ltd., and Boviet Technology Co., Ltd. Powerway Group has more than 5,000 employees and manufactures products for aerospace, traffic control, communications, household appliances, and renewable energy. The companys customers include companies such as Apple, Bosch, Emerson, Hitachi, Honeywell, Huwaei, Kohler, Moen, Panasonic, Samsung, and Siemens, to name a few.

About Boviet Solar USA

Headquartered in Silicon Valley, Boviet Solar USA is the North American arm of Boviet Solar Technology Co. Ltd., the largest manufacturer of solar panels in Vietnam. A wholly owned subsidiary of Powerway Alloy Materials Co., Boviet Solar USA delivers commercial-grade solar modules and related products to contractors, integrators, and distributed generation (DG) providers in North America. Boviet Solar USA offers innovative, state-of-the-art technology products developed and manufactured at the companys 530,000 square foot facility in Vietnam, which is designed to produce 650+MW of solar module capacity each year. Boviet Solar USA also delivers solar products where and when they are needed, shipping from multiple fully-stocked warehouses spread strategically across the U.S. with locations at both East and West coast shipping ports.