Power One (PWER) Pops On News It Has Begun Shipping From China

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08:39:20 pm on March 14, 2011

Shares of Power-One (PWER) got a bump off  the bottom today when the company announced that it has begun shipping its 250kW and 500kw utility grade  inverter products from its new manufacturing facility in China.  It will have a capacity of 1GW by the end of this year.  The company said that the facility will also help meet the demands of the Indian market in addition to the Asian market.

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"Asia represents a significant wind and solar growth opportunity for Power-One and we are excited that our Shenzhen facility is now shipping inverters to meet the needs of our regional customers," said Alex Levran, President of Renewable Energy Solutions at Power-One. "The Shenzhen factory will allow us to strengthen our presence and expand our products designed for the large and growing Chinese and Indian markets."

Shares of PWER popped more than 10% today but still remain in a fairly healthy downtrend following a major breach of support about a month ago.

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