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Bedford-based solar equipment manufacturer Spire Corp., has been selected to provide its photovoltaic module assembly line for a new factory in Russia, according to officials.
The new facility, being developed by Russian chemical company Bogoroditsk Plant of Techno-Chemical Products, will be located in the Tula region of Russia and represents the company's first solar module manufacturing facility for both the standard module and integrated photovoltaic products.
Financial terms of the deal were not provided.
The contract includes Spire's (Nasdaq: SPIR) semi-automated crystalline silicon module manufacturing line capable of producing up to 12 megawatts of solar modules per year. Spire will also supply the process technology and training to operate the factory.
For Spire the deal represents the third such deal overseas in the past three months. In March, Spire closed a deal with the solar division of Spanish renewable energy company Fluitecnik SA, while in April it sold equipment to Alpex Exports Pvt. Ltd. of New Delhi, India.
Spire reported a 2007 net loss of $1.7 million on revenue of $38.4 million.
Article Sources:http://www.bizjournals.com/masshightech/stories/2008/05/19/daily40.html?ana=from_rss
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