STR Holdings Inc., an Enfield, Conn.-based provider of solar encapsulants, plans to expand its U.S. manufacturing capacity to 3.0 GW and relocate the majority of its U.S. manufacturing facilities to a 275,000 square-foot plant located in East Windsor, Conn.
The facility also will be home to U.S.-based product management and sales teams and house a new 10,000 square-foot research and development laboratory. The company will cease manufacturing at its facilities in Enfield and Somers, Conn., after moving its existing equipment into the new facility during the next 15 to 18 months.
The closing on the purchase of the new facility is contingent upon completion of due diligence and satisfaction of certain other customary conditions, which the company expects to complete by the end of the third quarter of 2010. STR Holdings also expects to install an additional 1.0 GW of production equipment (presently on order) during the third quarter of 2011. The majority of the approximately $19 million for these expansion projects is expected to be incurred in 2010 and the early part of 2011.
SOURCE: STR Holdings Inc.
