Key Developments For Spire Corporation
Spire Corporation (SPIR.O) (Consolidated Issue listed on NASDAQ Global Market)
Spire Corporation To Expand UNICOR Solar Module Manufacturing To 75 Megawatts
Spire Corporation announced that it has entered an agreement with UNICOR - Federal Prison Industries, Inc. (UNICOR) to expand their current 25 megawatt (MW) module manufacturing capacity by the addition of a 50MW module manufacturing line to be located in Sheridan, Oregon. UNICOR is a wholly-owned government corporation that is authorized to operate industries, such as solar PV factories, in federal correctional institutions throughout the United States. Spire Corporation's module manufacturing allows inmates to gain substantial green-collar knowledge that is highly desired by employers.
Spire Corporation Enters into Commercial Agreements with Korea`s Uni-CHEM
Spire Corporation announced that it entered into two contracts to supply Uni-CHEM Co., Ltd. (Uni-CHEM) of Seoul, South Korea, via its United States (US) entity, Uni-CHEM Solar, a 60 megawatt (MW) per year turnkey Cell Line and a 50MW per year turnkey Module Line, as well as the associated utilities and infrastructure support.
Spire Corporation Establishes Spire Taiwan LLC Branch Office
Spire Corporation announced that it has established a wholly owned subsidiary, Spire Taiwan LLC that will have an office in Hsinchu County, Taiwan.
Spire Corporation Reaches Agreement to Sell Hemodialysis Catheter Business for $15 Million
Spire Corporation announced that it has reached an agreement with Bard Access Systems, Inc. to sell substantially all of the assets of its hemodialysis catheter business. The purchase price payable under the purchase agreement is $15.0 million, including $14.9 million payable at closing to Spire and $100,000 to be paid to two employees of Spire, as consideration for their execution of non-competition agreements. The purchase price is subject to adjustment in the event that the value of the inventory delivered at closing is less than the estimated value of the inventory as of September 4, 2009. The closing of the transactions contemplated by the purchase agreement is expected to occur before September 30, 2009.
Uni CHEM Co., Ltd. Signs MOU with Spire Corporation and to Acquire Majority Stake in Spire Solar Systems from Spire Corporation
Uni CHEM Co., Ltd. announced that it will establish the United States-based subsidiary company, Uni CHEM USA1 (a tentative name), and Uni CHEM USA1 will acquire 51% stake in Spire Solar Systems with USD 15,300,000, from Spire Corporation. Following the transaction, Uni CHEM USA1 and Spire Corporation will hold a 51% stake and a 49% stake in Spire Solar Systems, respectively. Uni CHEM Co., Ltd. has also decided to sign a memorandum of understanding (MOU) with Spire Corporation for supply of manufacturing devices.
