WATERLOO, ON, Aug. 9 /CNW/ - ARISE Technologies Corporation (TSX-V: APV)
(ADAX: A3T) announced today the purchase contract for the site acquisition in
Bischofswerda, Germany and the awarding of the construction contract for the
solar cell manufacturing plant.
ARISE Technologies Deutschland GmbH, a wholly owned subsidiary of ARISE
Technologies Corporation, entered into a binding agreement to purchase a 13
hectare site from the City of Bischofswerda, Germany. The Company expects the
transaction to close and complete in September. The subsidiary has the
necessary preliminary approvals to begin construction in advance of completing
In addition, ARISE Technologies Deutschland GmbH entered into an
agreement with HOCHTIEF Construction AG to construct the company's first solar
cell manufacturing plant in Bischofswerda, Germany. Site preparation has begun
and the manufacturing plant is expected to be ready for initial production in
the second quarter of 2008.
"We are pleased that we have begun the construction process of our first
cell manufacturing plant at our location in Bischofswerda. Once completed, the
plant will be able to house three production lines with an annual capacity of
125 MW. The first line will begin production in the second quarter of 2008 and
the second line in the fourth quarter of 2008," said Ian MacLellan, CEO and
President of ARISE Technologies Corporation. "Hochtief is a construction
leader in Germany and we are pleased to work with such a proven partner in
this project. The contract value and the timeline to complete construction are
in line with our expectations."
The cornerstone-laying event for the solar cell manufacturing plant will
take place on September 12, 2007 at 10:30 am at the site in Bischofwerda,
Germany. Invited to the event is the German Federal Environmental Minister
Sigmar Gabriel. Attending the event will be the Minister-President of the Free
State of Saxony Prof. Dr. Georg Milbradt, the Mayor of Bischofswerda Andreas
Erler, the Canadian Ambassador to Germany Paul Dubois and other guests from
politics and business. At the event, ARISE Technologies Corporation will
announce detailed construction targets and celebrate an exciting milestone.
HOCHTIEF is one of the leading international providers of
construction-related services. With almost 47,000 employees and a sales volume
of (euro)15.51 billion in FY 2006, the company is represented in all the
world's major markets. In the USA, the biggest construction market in the
world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner. With
its Group company Leighton, HOCHTIEF is market leader in Australia. The
HOCHTIEF service offering in the fields of development, construction,
services, concessions and operation covers the entire building value chain.
Further information is available at www.hochtief.com.
ARISE Technologies is dedicated to accelerating the use of solar energy
in mainstream North American markets. The Company has three operations:
Photovoltaic (PV) Technology, Silicon Feedstock and Systems. ARISE Common
shares are listed on the TSX Venture Exchange under the trading symbol APV and
on the Frankfurt Stock Exchange Open Market under the symbol A3T. Additional
information is available at www.arisetech.com and www.sedar.com. Certain
statements contained in this press release may be considered as
forward-looking. Such forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from
estimated or implied results. The TSX Venture Exchange has neither approved
nor disapproved the contents of this news release.
For further information:
For further information: ARISE Technologies Corporation, 65 Northland
Road, Waterloo, Ontario, Canada, N2V 1Y8, Tel. (519) 725-2244, Fax: (519)
725-8907, www.arisetech.com; Ian MacLellan, President & CEO, (519) 772-5707,
firstname.lastname@example.org, TSX Venture Exchange Symbol: APV