North Coast Solar Stocks

September 29, 2009

Spire Enters into Commercial Agreements with Korea’s Uni-CHEM

Filed under: SPIR — Tags: , , , , — Jason @ 9:05 am

Tuesday September 29, 2009, 9:05 am EDT

BEDFORD, Mass.–(BUSINESS WIRE)–Spire Corporation (SPIR), a global solar company providing capital equipment to manufacture photovoltaic (PV) modules and turnkey manufacturing lines worldwide today announced that it entered into two contracts to supply Uni-CHEM Co., Ltd. (Uni-CHEM) of Seoul, South Korea, via its United States (US) entity, Uni-CHEM Solar, a 60 megawatt (MW) per year turnkey Cell Line and a 50MW per year turnkey Module Line, as well as the associated utilities and infrastructure support.

Uni-CHEM has indicated its intent to lease space from Spire at its Hudson, New Hampshire’s Spire Semiconductor facility to house the automated 60MW Cell Line and 50MW Module Line. Terms of the sub-lease are not yet fully defined and currently under negotiation. The Uni-CHEM integrated Cell and Module Lines are planned to become operational in the second half of 2010.

Additionally, Uni-CHEM has agreed it will form a US entity, which will purchase 51% of Spire Solar Systems, Spire Corporation’s system integration business, subject to definitive documentation. Such definitive agreements have not yet been finalized.

Roger G. Little, Chairman and CEO of Spire Corporation, said, “We are excited to have finalized the cell and module turnkey manufacturing agreements with Uni-CHEM. We believe their cell and module manufacturing will position them to participate in the US solar market, which is anticipated to be one of the world’s fastest growing. The total value of the contracts, including those relating to the investment in the systems integration business, is approximately $60 million.”

About Uni-CHEM Co., Ltd.

Uni-CHEM Co., Ltd. (Korea Stock Exchange: 011330.KS) produces and markets leather products for Korea’s major automakers and luxury goods companies such as Burberry and Coach. It was formerly known as Shinjin Leather Industrial Co., Ltd. and changed its name to Uni-CHEM Co., Ltd. in April 2000. The company was founded in 1974 and is based in Ansansi, South Korea. For more information, visit: http://www.uni-chem.net.

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