NEWARK, Del., Sept. 18, 2001 AstroPower, Inc., a supplier of solar electric power products, today announced that it had completed its acquisition of Atersa, a manufacturer of solar electric power modules and balance-of-system design and integration services based in Valencia, Spain. AstroPower had announced plans for the acquisition on July 31, 2001.
The closing of the transaction occurred in Spain on September 11, 2001, with the issuance of 183,984 shares of AstroPower common stock and cash of approximately $12.8 million.
Headquartered in Newark, Delaware, AstroPower is the world’s largest independent manufacturer of solar electric power products, and one of the world’s fastest growing solar electric power companies. AstroPower develops, manufactures, markets and sells PV solar cells, modules, panels and systems for generating solar electric power. Solar electric power systems provide a clean, renewable source of electricity in both off-grid and on-grid applications.
In December 2000 AstroPower was added to the S&P SmallCap 600. In February 2001 AstroPower was ranked 39th on Business Week’s Top 50 S&P Small Cap Company list for one and three-year performance. For more information, please visit www.AstroPower.com.