Silfab + Heliene, Commercial Cooperation

MISSISSAUGA AND SAULT STE. MARIE, ON, Nov. 30, 2012 /PRNewswire/ - Today, we are pleased to announce that Silfab Ontario, Inc. and Heliene Inc. have commenced an Operational Arrangement.

As of this date, the two companies will start a commercial cooperation, working jointly as one, to serve larger developers in Ontario, with the combined entity being known as "Helios Power Canada".

Demand for quality solar modules, needed in the Province of Ontario under the FIT Program during the next two years, requires a capable and strong manufacturing partner, with sufficient capacity and flexibility to be able to satisfy timely manufacturing of large quantities of bankable PV modules.

Helios Power Canada is being built out to meet these demands.

Through this combination of two recognized market leaders, we will be uniquely positioned to provide superior service.  By sharing resources, we will be equipped to fulfil future contracts in a materially more efficient manner.  By streamlining our operations, quoting capacities and offering a reduced vendor base, this consolidation of our companies' commercial capabilities will definitely achieve positive results for our clients.

What does this mean for our clients?

• Combined capacities;
  
  
• A single point of contact for both Silfab and Heliene;
  
  
• Access to larger production capacities & inventories;
  
  
• Substantial decrease in time allocated to processing requirements.

The new entity, Helios Power Canada, brings a combined manufacturing capacity of 150MW and installed operating modules in the Province totalling in excess of 75MW representing 25%of the installed solar base in Ontario). Our mission, commitment and values will only be made stronger by such a merger of capabilities and our client satisfaction will increase. Helios Power Canada has committed to reserving a percentage of its manufacturing capacity for existing contracts, and it looks forward to being able to service new OEM contracts with a multitude of existing, new and enhanced product offerings.

"Silfab Ontario has been able to have significant success, thanks to great customers and employees, and continues to look for strong partners in order to further improve.

We have found such a partner in Heliene". Said Paolo Maccario, Silfab's COO and General Manager. "At a personal level, I have been working with Martin in promoting and progressing the Solar Industry and I am glad to be able to continue this cooperation in now developing the market going forward. I have a great respect for the Heliene team and all of us at Silfab are looking forward to providing outstanding products and great service together".

"There is a clear path going forward for the evolution of the solar industry, and this alliance positions Helios Power Canada in the right track". Said Martin Pochtaruk, President of Heliene. "Besides the strategy though, there is nothing better than working with people you respect and share values with".

SOURCE Heliene Inc