Arise Technologies to buy two 60 MW cell production lines for German plant expansion

(ADPnews) - Nov 18, 2010 - Canadian solar technology firm Arise Technologies Corp (TSE:APV) said on Tuesday it has agreed to buy two 60 MW cell production lines to expand the output capacity of its 85 MW German plant.

The company said it signed a letter of intent for the purchase with a major supplier, without disclosing its name. Under the agreement, Arise has to finalise the definitive deal and obtain the required debt, equity and government aid in four weeks. It added that it is in advanced talks with funding groups and will announce details upon completing the financing agreements.

Arise expects to start shipments from the new lines in the second and the fourth quarter of 2011.

The company also said it is in negotiations with a European alternative energy company to commercialise its silicon technology and anticipates to strike a deal by the end of the year.

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