OPEL Technologies Sells Its Solar Assets To NSM

Posted by SI Staff on August 30, 2012 No Comments
Categories : New & Noteworthy

OPEL Technologies Inc. and its subsidiary OPEL Solar Inc. have entered into an agreement with Northern States Metals (NSM) of West Hartford, Conn., to sell most of OPEL's solar assets to NSM.

OPEL says it is planning to ‘diversify out of solar.’ Assuming that all closing conditions for the sale are satisfied, the transaction is expected to be completed in late September.

According to Tom Meola, president and CEO of NSM, OPEL's solar tracker technologies will broaden NSM's existing solar product line, which includes the Solar FlexRack mounting system. NSM plans to target utility-scale solar projects, which Meola says are an ideal fit for OPEL's tracker.

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