Energy Conversion Devices (ENER) Accelerating Expansion

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12:26:13 am on October 3, 2008

One day removed from its announcement that it has entered into a joint agreement with CertainTeed to develop roofing integrated photovoltaic products for the residential market, Energy Conversion Devices (ENER) is announcing an acceleration of its expansion plans at its first company sponsored investor day.  The company is nearing a decision on site selection for a new 120 MW solar cell manufacturing plant and announced it would increase capacity to 420 MW in 2010, 720 in MW and 1GW in 2012 through supply chain efficiencies all funded by existing cash and future operating cash flow

CEO Mark Morelli said, “The accelerated expansion in capacity will help us meet the growing global demand for our thin-film, flexible solar laminates earlier than we had previously forecast.”

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