Energy Conversion Devices Approves Capacity Expansion to 300 Megawatts

[jpak]

http://www.solarbuzz.com/News/NewsNAMA64.htm

Energy Conversion Devices, said today that the company's Board of Directors approved a plan to expand the solar module manufacturing capacity of its wholly owned subsidiary United Solar Ovonic to 300 megawatts by 2010.

The first phase of the expansion plan will include the construction of a third manufacturing facility with an annual capacity of 50 megawatts, which is expected to be operational in calendar year 2007. United Solar Ovonic currently manufactures solar modules at a 25-megawatt production facility in Auburn Hills, Mich., and is currently constructing a second 25-megawatt production facility also located in Auburn Hills.

"Expanding our capacity should enable us to continue to strengthen our position in the rapidly growing market for solar power systems. Global demand for solar power systems is expected to grow in excess of 20% annually," commented Robert C. Stempel, Chairman and CEO of ECD Ovonics. "This plan should also enable us to achieve significant economies in sourcing and production by increasing the size and scale of our solar business."

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[Coastie for Truth]

1. Congratulations Iris and Stan

:toast: