STR Holdings Inc., a leading global provider of high quality, superiorperformance solar encapsulants to the photovoltaic module industry, hasclosed on its previously announced acquisition of land and a 275,000square foot building located in East Windsor, CT.
STR willrelocate the majority of its US manufacturing to the new location. Inaddition, the facility will house US-based product management and salesteams, as well as a new 20,000 square foot research and developmentlaboratory. The facility acquisition enables STR to complete the planned expansion of its Connecticut manufacturing capacity to approximately 3GW in 2011.
The company continues to anticipate installing 1.2 GW of new production equipment in Connecticut during the third quarter of2011 and will cease manufacturing at its current facilities in Enfieldand Somers, CT after moving its existing equipment into the new facility during the next nine to 12 months.
The company estimatesspending approximately $19 million to complete the expansion, $5 million of which will be spent in 2010, with the balance incurred in 2011.
Dennis L. Jilot, chairman, president and CEO of STR Holdings, stated: “Theacquisition of our new East Windsor facility marks another importantmilestone for STR Solar. This facility will provide ample space toincrease Connecticut production capacity up to approximately 6.0 GW insupport of our continued strong growth and to enable us to increase ourindustry-leading innovation with a newly dedicated, state-of-the-artresearch and development facility.”
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