United Solar Gets Italian Contracts

July 7, 2006

United Solar Ovonic to Supply Italian Companies With Photovoltaic Laminates

AUBURN HILLS, Mich. (AP) — United Solar Ovonic, a subsidiary of solar panel and rechargeable battery maker Energy Conversion Devices Inc., (NasdaqGM: ENER) said Thursday it has signed multi-year agreements with two Italian companies to supply a total of 46 megawatts of photovoltaic laminates. Financial terms of the deals were not disclosed.

Spazio Energia will use United Solar’s Uni-Solar laminates to build large-scale photovoltaic solar parks in the first phase of Italy’s “Gigawatt Scale” PV Solar Park Initiative, United Solar said.

Sunerg Solar, a photovoltaic distributor and system integrator, will use the laminates to meet the needs of its customers and distribution channels in the Italian market.

Shares of Energy Conversion Devices rose $1.28, or 3.6 percent, to $37.37 in midday trading on the Nasdaq. Over the past year, shares of the company have traded between $22.50 and $57.84.

Source:  Yahoo


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