SAN JOSE, Calif., Oct. 1, 2018 /PRNewswire/ -- Following up on
its commitment last spring to invest in American manufacturing,
SunPower (NASDAQ:SPWR) today announced that it has completed its
acquisition of certain assets of SolarWorld Americas, including its
Hillsboro, Oregon facilities and
its predominantly manufacturing workforce of more than 200
employees. SunPower has already begun to inject fresh capital into
the factory as it executes plans to implement its leading-edge high
efficiency P-Series solar panel manufacturing technology.
"This acquisition is an important step in helping to reshape
solar manufacturing in America," said Tom
Werner, SunPower CEO and chairman of the board. "With a
dedicated and experienced Hillsboro workforce and our advanced P-Series
solar panel manufacturing technology, invented and perfected in
Silicon Valley, we'll be able to sell high-performance
American-assembled panels to serve our strong U.S. market
demand."
SunPower has already begun implementing its plans to move
relevant equipment to Hillsboro
and rapidly convert existing module capacity to manufacture 19
percent efficient P-Series technology. Product shipments are
expected to begin by the first quarter of next year. During this
transition, Hillsboro employees
will continue to produce SolarWorld Americas product over the next
several months before refocusing on manufacturing SunPower P-Series
products.
SunPower, a leader in the residential and commercial markets,
will sell 19 percent efficient P-Series panels as part of a
comprehensive high-efficiency product portfolio that includes X-
and E-Series, and, beginning in 2019, will include its newly
developed next generation technology.
The purchase price for the SolarWorld Americas assets was not
disclosed.
About SunPower
As one of the world's most innovative
and sustainable energy companies, SunPower (NASDAQ:SPWR) provides a
diverse group of customers with complete solar solutions and
services. Residential customers, businesses, governments, schools
and utilities around the globe rely on SunPower's more than 30
years of proven experience. From the first flip of the switch,
SunPower delivers maximum value and superb performance throughout
the long life of every solar system. Headquartered in Silicon
Valley, SunPower has dedicated, customer-focused employees in
Africa, Asia, Australia, Europe, and North and South America. For more information about how
SunPower is changing the way our world is powered,
visit www.sunpower.com.
Forward-Looking Statements
This press release
contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, including, but
not limited to, statements regarding capital injections,
manufacturing and production plans, product focus, and transition
timing. These forward-looking statements are based on our current
assumptions, expectations and beliefs and involve substantial risks
and uncertainties that may cause results, performance or
achievement to materially differ from those expressed or implied by
these forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to:
competition and market conditions in the solar and general energy
industry, our ability to commercialize new products and services,
appropriately sizing our manufacturing capacity and containing
manufacturing and logistics difficulties that could arise, and
difficulties that may arise in managing our strategic
relationships. A detailed discussion of these factors and other
risks that affect our business is included in filings we make with
the Securities and Exchange Commission (SEC) from time to time,
including our most recent reports on Form 10-K and Form 10-Q,
particularly under the heading "Risk Factors." Copies of these
filings are available online from the SEC or on the SEC Filings
section of our Investor Relations website at
investors.sunpower.com. All forward-looking statements in this
press release are based on information currently available to us,
and we assume no obligation to update these forward-looking
statements in light of new information or future events.
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SOURCE SunPower Corp.