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Print Edition StoriesWednesday, July 30, 2008
Spire nails multi-year contract in China
By Mass High Tech Staff
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Solar equipment manufacturer Spire Corp. said it has landed a multi-year, multi-system contract with Trina Solar Ltd. of China. According to the deal, Spire (Nasdaq: SPIR) will provide several Spi-Sun Simulator 4600 Single Long Pulse systems to the Chinese company.
Trina Solar makes photovoltaic modules, through its wholly-owned subsidiary Changzhou Trina Solar Energy Co. Ltd., for use in residential, commercial and industrial applications.
Financial terms of the contract were not disclosed.
For Spire, the deal represents the latest global contract it’s reached to supply equipment and turnkey production lines for PV module manufacturers. Last week, the company announced a new contract to provide product safety certifier Underwriters Laboratories Inc. with test equipment for the U.S. and China. In June, Spire won a contract from PLG Power Ltd. of India. And in May, it won a similar contract from Russian chemical company Bogoroditsk Plant of Techno-Chemical Products for the Russian company’s first solar module manufacturing facility.
China’s foray into alternative energy stems from its burgeoning economy and relentless demand for electricity, mostly powered by coal, and the simultaneous spotlight on the country with the 2008 Summer Olympic Games and the 2010 Shanghai World’s Fair.
Roger Little, president and CEO of Spire, said that the company opened its first factory in China in 1983. While the country does import Spire products, Little said the demand for solar equipment has actually diminished now that Chinese manufacturers are making their own equipment versions.
Spire reported a 2007 net loss of $1.7 million on revenue of $38.4 million.
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