China's solar power products maker JA Solar Holdings Co Ltd said it would buy privately held Shanghai Jinglong Solar Technology Co Ltd for about $29.3 million in cash to expand its module production.
Shanghai Jinglong is currently owned by Ningjin Jinglong PV Investment Co Ltd, controlled by JA Solar Chairman Baofang Jin.
JA Solar said it would acquire about 206,590 square meters of land, 58,706 square meters of buildings and related facilities.
Shares of JA Solar closed at $5.35 Tuesday on Nasdaq.
