Advanced Energy Announces Expansion of Operations in Ontario, Canada
October 04 2010 - 8:00AM
Business Wire
Advanced Energy Industries, Inc. (NasdaqGM: AEIS), today
announced a strategic expansion of its operations in Ontario,
Canada. The expansion includes the creation of a new legal entity
in Ontario, Canada to provide local support to its customers in the
region. In addition, the company has formed a strategic
relationship with a global leader in electronics manufacturing
services based in Ontario to manufacture the Solaron® and PV
Powered™ PV grid-tie inverter products in Ontario. This new
agreement will expand Advanced Energy’s worldwide production
capability to meet growing demand for the company’s market-leading
lines of residential, commercial, and utility-scale inverters.
The new Ontario facility adds to Advanced Energy’s growing
infrastructure in the region, and supports the company’s commitment
to one of the fastest growing solar markets in the world.
Initially, the new facility will provide Canadian customers with
sales and customer support services, and will ultimately include
field service and application engineering resources. The regional
manufacturing capability will also provide Canadian customers
access to Solaron and PV Powered inverters while meeting the
requirement for local content by the Ontario government's
feed-in-tariff (FiT) program under the Green Energy Act.
“This expansion into Canada reflects our globalization strategy
driven by growing demand for Advanced Energy inverter solutions,
and marks our commitment to customers in this area. The Canadian
market is expanding rapidly and is a key element of our growth
strategy,” said Dr. Hans Betz, chief executive officer of Advanced
Energy. He continued, “Our chosen supplier’s proven manufacturing
excellence and reputation for quality will allow us to provide our
customers in Ontario with the industry’s most advanced PV inverter
technology and expertise for residential, commercial, and
large-scale grid-tie utility applications.”
The company expects to start shipping locally manufactured
products from Canada in the fourth quarter of 2010 and has the
capability to ramp capacity as the market expands. To further
broaden local content, Advanced Energy’s 1 MW and 2 MW
medium-voltage integrated inverter solutions will also be
manufactured in Ontario through a separate local collaboration.
About Advanced Energy
Advanced Energy (NasdaqGM: AEIS) is a global leader in
innovative power and control technologies for high-growth,
thin-film manufacturing and solar-power generation. Advanced Energy
is headquartered in Fort Collins, Colorado, with dedicated support
and service locations around the world. For more information, go to
www.advanced-energy.com.
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