Jusung Engineering said on Sept. 8 that it will export 47 billion won worth of solar cell manufacturing equipment to EnCore Group LCC, a European solar cell manufacturer.
The equipment supplied by Jusung to the European company is PE CVD (Plasma Chemical Vapor Deposition). PE CVD is a technology for depositing an antireflection coating on a solar cell substrate.
It is the first time in nearly 10 years that Jusung has signed a contract to supply large-scale solar equipment at home and abroad. In other words, it signaled a comeback in the solar power business.
Jusung recorded the highest annual sales of more than 400 billion won in 2010, with sales in the solar sector accounting for around 40%. However, since 2012, the solar power market has continued to stagnate, resulting in a drought of orders.
Its last year's performance was 118.5 billion won in sales and minus 2.5 billion won in operating profit, with the solar sector accounting for less than 1% of total sales. In this situation, exports of solar equipment to Russia are tantamount to spraying welcome rain during a long drought.
Jusung's sales in the first half of this year more than doubled from a year earlier to 147.6 billion won. Operating profit recorded 27.8 billion won, successfully turning from a deficit of 3 billion won to a surplus.