Applied Materials Inc., Santa Clara, Calif., has acquired substantially all the assets, including the intellectual property, of Advent Solar Inc., Albuquerque, for an undisclosed cash amount. Advent Solar is a developer of advanced technology for crystalline silicon (c-Si) PVs. This acquisition is expected to complement Applied’s portfolio of solar PV technologies.
“We believe the acquisition of Advent Solar will increase our opportunities to provide innovative solutions for reducing module production costs,” said Dr. Mark Pinto, chief technology officer and general manager of Applied’s Energy and Environmental Solutions Group. “Combining Advent Solar’s PV technology with Applied’s expertise in automated wafering and cell production equipment, we expect to deliver systems that will enhance customers’ c-Si roadmaps and accelerate the reduction in cost per watt of solar electricity.”
Archive for November 9th, 2009
Applied Materials Bolsters PV Biz with Acquisition of Advent Solar
NEMA-Backed Motor Rebate Bill Introduced in Congress
Congresswoman Tammy Baldwin (D-WI) has launched a $700 million motor rebate bill for an energy-efficient motor rebate program advocated by the National Electrical Manufacturers Association (NEMA), Rosslyn, Va.. This “crush for credit” legislative proposal has been introduced in the House of Representatives as HR 4031.
According to a press release at www.nema.org, the billl is similar to a previous legislative proposal and authorizes a federal rebate program for the purchase of NEMA Premium motors. The newly introduced bill, however, doubles the authorized amount from $350 million to $700 million. The $700 million legislative proposal creates a federal rebate program that will provide a $25 per horsepower rebate for the purchase of NEMA Premium energy-efficient motors. It also provides for a $5 per horsepower rebate for the proper disposal of the less efficient, non-NEMA Premium motor.
Said NEMA President and CEO Evan Gaddis, “Since the energy/climate change bill continues to be held up due to partisan bickering, I applaud Representative Baldwin for taking a leadership role to ensure that the crush-for-credit proposal remains active. Not only does this program incentivize the purchase of NEMA Premium motors, it also vastly decreases the demand on our electric grid.”
HWC enjoys 2.7% Bump in 3Q Sales
Houston Wire & Cable Co., Houston, reported sales in the third quarter of 2009 of $63.6 million, up 2.7% from the second quarter of 2009 but down 35.7% when compared to the third quarter of 2008. HWC said the sales decline from 2008 was due to the current economic conditions, which curtailed product demand and average copper prices, which were 20% lower. The decrease in copper prices is estimated to have accounted for almost one-half of the sales decline.
Sales in HWC’s MRO business, and within the company’s five growth initiatives — emission controls, engineering and construction, industrials, LifeGuard and utility power generation –decreased from the prior year period. After adjusting for copper deflation, the company estimated its MRO business declined between 10% to 20%, while sales from its growth initiatives were essentially flat.
Said Chuck Sorrentino, president and CEO, “We continue to be faced with weakened industrial demand due to depressed economic conditions, but are pleased to have experienced a slight increase in sequential sales during the quarter. Operating expenses have now reached their lowest level since our IPO in 2006. In spite of the business conditions net income for the third quarter was up 21% sequentially. We continue to remain focused on market share gains and added approximately 50 new customers in the third quarter of 2009.”
Rockwell Earnings Drop 77% YTY in 3Q
Rockwell Automation, Milwaukee, had a tough third quarter and according to a Reuters report. CEO Keith Nosbusch said the automation giant’s initial fiscal 2010 profit forecast in a wide range that called for anything from an 11 percent rebound to a 19 percent drop. According to that report he told analysts on a conference call, “At this point, we would characterize business conditions as stable, but at demand levels well below the peak of the cycle. We expect a recovery, but no one knows what the shape of the recovery will be.”
Cree to Expand LED Manufacturing in China
LED manufacturer Cree Inc. Durham, N.C., is purchasing a 592,000-square-foot facility in Huizhou, Guangdong Province, China. The facility will be Cree’s first chip production facility outside of North America and is targeted to also house future components manufacturing expansion. More than half of Cree’s employees work in China, mostly at the current Huizhou factory.
