TOYO acquires remaining stake in US solar subsidiary

TOYO Co., Ltd. (NASDAQ: TOYO) announced it has acquired the remaining 24.99% membership interest in TOYO Solar LLC, making the U.S. subsidiary wholly owned by the company.

The transaction was disclosed in a press release statement from the Tokyo-based solar solution company. TOYO Solar LLC is developing a 2.5GW solar module manufacturing facility in Texas.

"This acquisition marks a key milestone in our U.S. growth strategy," said Junsei Ryu, Chairman and CEO of TOYO. "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."

The acquisition follows TOYO's expansion into U.S.-based manufacturing operations. The company describes itself as a solar solutions provider that integrates upstream production of wafers and silicon, midstream production of solar cells, and downstream production of photovoltaic modules.

TOYO shares also trade on the OTC market under the symbol TOYWF. The company filed the information with the U.S. Securities and Exchange Commission as part of its disclosure requirements.

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