MEMC Electronic Materials (WFR) To Work With Samco Solar To Produce Racking Equip For Canadian Projects

MEMC Electronic Materials (WFR) SunEdison division announced its plans to produce racking equipment for its Canadian solar projects with Samco Solar, a division of Samco Machinery.  The partnership will be a big benefit to Samco Machinery which has been hit hard in a tough economy.  It will produce 15 – 18 permanent jobs for the company and many more temporary positions.  The retooling of the Samco plant has begun and they are expected to begin shipping the racking for roof top solar projects in a few months.

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“We’ve been very pleased with the manufacturing expertise in the province as demonstrated by Samco,” said Jason Gray, Vice President, Canada for SunEdison. “Production of the racking is extremely cost competitive here in Ontario, enabling us to produce product for U.S. export.”

Shares of WFR are up franctionally today and remain relatively weak, but I still like this company for a long term position.  I just think it’s a bit too soon yet. 

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