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Prima / Noutati / STR Holdings completes acquisition of solar manufacturing facility
STR Holdings completes acquisition of solar manufacturing facility
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STR Holdings, which produces encapsulants for the solar photovoltaic module industry, has finalised the acquisition of a new factory in East Windsor, Connecticut, US.

The company will move the majority of its US manufacturing to the new facility, which will also house product management and sales teams and a 20,000 square foot research and development laboratory.
STR says the new 275,000 square foot building will enable it to expand its Connecticut manufacturing capacity to approximately 3.0GW in 2011.
It plans to install 1.2GW of new production equipment in Connecticut during the third quarter of 2011 and will stop manufacturing at its current facilities in the towns of Enfield and Somers, after moving its existing equipment into the new facility during the next nine to 12 months. It expects to spend $19m to complete the expansion, $5m in 2010 and the rest in 2011.
‘This facility will provide ample space to increase Connecticut production capacity up to approximately 6GW and to enable us to increase our research and development,’ said Dennis L. Jilot, chairman, president and CEO of STR Holdings.
STR raised $123m through an initial public offering last year. Its market capitalisation has now risen to $819m.

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