North Coast Solar Stocks

May 5, 2009

Energy Conversion Devices Responds to Solar Integrated Technologies Announcement

Filed under: ENER — Tags: , , , , — Jason @ 8:03 am

Tuesday May 5, 2009, 8:03 am EDT

ROCHESTER HILLS, Mich., May 5 /PRNewswire-FirstCall/ — Energy Conversion Devices, Inc. (ECD) (ENER), the leading global manufacturer of thin-film flexible solar laminate products for the building integrated and commercial rooftop markets, today responded to a disclosure by Solar Integrated Technologies, Inc. (SIT).

SIT announced that it has discontinued its discussions with a commercial lender relating to a line of credit, and has extended the term of its loan and security agreement with GE Energy Financial Services until July 3, 2009. SIT also announced that it is now evaluating strategic alternatives including a possible sale of the company. ECD said that it is working closely with SIT’s management, and has no further comment on the situation at this time.

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