North Coast Solar Stocks

June 8, 2009

SunPower Announces Multi-Year Manufacturing Agreement With Jabil Circuit, Inc.

Filed under: SPWR — Tags: , , , , — Jason @ 8:00 am

Monday June 8, 2009, 8:00 am EDT

Panel Assembly Agreement Leverages Jabil’s North American Footprint to Reduce Supply Chain Costs

SAN JOSE, Calif., June 8 /PRNewswire-FirstCall/ — SunPower Corp. (SPWRA; SPWRB), a manufacturer of high-efficiency solar cells, solar panels and solar systems, today announced that it has signed a multi-year solar panel manufacturing agreement with Jabil Circuit, Inc., to build panels for SunPower’s North American solar market. Jabil will begin manufacturing panels for SunPower in Mexico in the second half of 2009.

This agreement is the first step in SunPower’s long-term strategy to implement regional panel assembly for improved customer service and reduced costs. The company is also continuing to evaluate establishing localized manufacturing facilities in large solar markets in the U.S.

Separately, Jabil will collaborate with SunPower in the company’s participation in the Solar America Initiative (SAI), a U.S. Department of Energy effort to accelerate the development of advanced solar energy technologies. SunPower has participated in the initiative since September 2007. SunPower and Jabil intend to evaluate establishing world-class panel and system manufacturing locations in the U.S., which would result in the creation of highly skilled jobs.

“This agreement provides SunPower with the flexibility to site manufacturing near the largest and fastest growing solar markets in North America, improving the efficiency of our supply chain,” said Marty Neese, SunPower’s chief operating officer. “Jabil’s extensive experience in manufacturing and high-quality standards makes them an ideal partner for producing SunPower’s solar panels, the most powerful solar technology on the planet.”

“We are in the process of ramping production capacity to manufacture solar panels in Europe and North America for customers in those markets,” said Brian Althaver, Jabil’s vice president for strategic development. “This agreement gives us the opportunity to use our capabilities as a global manufacturer to provide a responsive, reliable and cost effective manufacturing solution in close proximity to solar markets.”

About Jabil

Jabil is an electronic product solutions company providing comprehensive electronics design, manufacturing and product management services to global electronics and technology companies. Jabil helps bring electronics products to the market faster and more cost effectively by providing complete product supply chain management around the world. With more than 85,000 employees and facilities in 22 countries, Jabil provides comprehensive, individualized-focused solutions to customers in a broad range of industries. Jabil common stock is traded on the New York Stock Exchange under the symbol, “JBL”. Further information is available on the company’s website: jabil.com.

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