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I just received a response from Pelham Public Relations (SIT's public relations firm) regarding the AGM. They advise that unless there is price sensitive information that comes up in the meeting, SIT is not under any legal obligation to make a statement. All resolutions passed. Cheers
Contacted SIT via email - no response Contacted by phone - spoke to someone named Elaine (This after the receptionist did not know who I should be talking to). Elaine indicated that she did not have taht information, and directed me to the companies media relations firm. I emailed the firm the question - no resonse. Lovely Cheers
http://www.fabtech.org/content/view/65563/ SIT's new contract with Uni-Solar run's to 2012 Connect the dots. Cheers
Yet another Buy rating. Cheers With European governments offering subsidies to encourage the use of solar power, Solar Integrated Technologies has expanded from the US to the Continent. With a blue-chip client base that includes Tesco, Audi, Toyota and Wal-Mart, and new contracts which guarantee supply, the company is expected to double revenues again this year. Chief executive Randy MacEwen is in London this week to meet investors and analysts, meaning the shares could receive a considerable boost. As noted above, there are considerable risks with alternative energy companies that may be strong on ideas but weaker on management and financing. Nevertheless, SIT bears further examination. Buy, says the Sunday Telegraph.
10,000,000 shares! Do we have our answer to the financing? Anticipating a relevant Monday! Cheers
Hopefully there are some share holders that are going. Curious to know what is happening with the proposed new facility and how it will be financed. Cheers
Thanks PM65C...nice to see more individuals getting involved. Added note on United Solar Ovonic fast tracked expansion: http://news.google.ca/news?hl=en&um=1&tab=wn&q=united+solar+ovonic Cheers
For the most part my posts are informative, so I thought I would take the liberty of being somewhat subject here. Capacity at SIT is a concern whereas a second facility is a necessity Suppliers are fast tracking there own facilities to accomodate SIT's increasing requirements. Financing becomes an issue. The way I see it, SIT gets bought or SIT IPO's on a U.S. exchange. This seems viable, as the CEO has been hinting at this for over a year now. Don't let the proponents of doom and gloom of the world economy cloud your judgement. Oil will come down - U.S. markets will rebound - IPO's will be better received When Oil will start to come down soon By the third quarter of this year, the U.S. markets will be much better, as will the U.S. dollar...this is an election year. Over the last 3 months institutions have been increasing their positions in SIT by 24,000,000 shares. They were buying in at just over 1 pound maximum. Cheers
Uni-Solar accelerates expansion plans to accomodate SIT http://www.fabtech.org/content/view/6508/ Much of the added capacity will go to Solar Integrated Technologies, which announced an updated agreement with Uni-Solar earlier this month. The Michigan company will supply its flexible TF a-Si products to the Los Angeles-based manufacturer, designer, and installer of building-integrated PV roofing systems as part of a deal that "expands the scope and supply of Uni-Solar photovoltaic laminates significantly beyond [the originally agreed] 100 MW and extends the term through December 31, 2012, on a 'take or pay' basis."
Small Filers Warming to New SOX Regime This spring marks the first year that small public companies must comply with Section 404 of Sarbanes-Oxley, and so far things seem to be going fairly well. Randall MacEwen, CEO of $81 million Solar Integrated Technologies, says compliance “is now more of a modest consideration for us than it’s ever been.” His company is currently listed on the more relaxed AIM exchange in London, but “We’re definitely considering listing in the more relaxed U.S. environment,” he says. Cheers
Solar Integrated Mulls Acquisitions 03/31/2008 Solar Integrated Technologies has announced that the company is eyeing potential acquisitions in the solar-powered roof market in 2008. Randy MacEwan, Chief Executive of the company said that the company plans to look at opportunities for growth through acquisitions in the market. “We are in the space that's expected to have a lot of M&A activity in the coming years. If you talk to analysts both in Europe and the US, they will identify Solar Integrated as one of the key players that has the opportunity to look at a consolidated play,” said MacEwan. Cheers
I've mentioned in the past, but to update "Sustainability is another important effort for Westfield Design. Virtually every project on the drawing board is being considered from a sustainability perspective or currently has an environmental consultant assigned to it to address issues such as lighting retrofits, roofing systems, solar technology and more." 12 current Projects on the go @ 4 billion dollars http://www.news.com.au/business/story/0,23636,23658823-462,00.html On top of the 12 projects, they have future plans for 38 more Cheers
http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article3934150.ece Cheers
http://www.investors.com/editorial/IBDArticles.asp?artsec=17&artnum=3&issue=20080509 Cheers
http://www.courant.com/news/local/nb/hc-platc0506.artmay06,0,4086333.story Cheers
I feel honoured to finally see that we are now getting posts from the greedy lurkers. This one has posted over 400 over the last 30 days! Cheers
18.04.08: +0, (100) IC says Buy (100.5p): BULL POINTS Maiden profits expected in 2008 - Markets growing rapidly - Government subsidies likely to support market BEAR POINTS Increasing production to match demand likely to be a challenge - Lacks European production facility. Receiving more analyst coverage Cheers
Solar Integrated is opening markets in Europe, encouraged by attractive feed-in tariffs. Italy, for example, has premium feed-in tariffs for BIPV systems which range from between 10 to 25 per cent higher than standard Italian feed-in tariffs for ground-mounted photovoltaic systems. In 2006 European sales represented 19 per cent of Solar Integrated’s turnover. This is expected to rise to between 50 and 60 per cent of sales this year. So far Germany has been the most important market for the company, but this is changing as Italy, France, Spain and Greece are emerging as markets with significant potential. Last December Solar Integrated announced that it had won a supply contract in Italy worth more than US$70 million. The contract is with an Italian solar project developer and will involve BIPV installations on several large buildings. Solar Integrated expects to complete a significant portion of the contract in 2008, and the remainder in 2009. The company’s Los Angeles plant, which has nameplate capacity of 25MW, is currently undergoing engineering improvements and adjustments to increase capacity to 30MW. Solar Integrated expects 2008 production output to more than double to 24MW. With strong demand for its BIPV products, the company’s management is evaluating options for a manufacturing facility in Europe. The plans are expected to be finalised by year-end and it is envisaged that the new plant would come on stream by early 2010. Broker coverage o
...With Mr MacEwen at the helm Solar Integrated has strengthened its balance sheet. The re-financing risk has been significantly reduced by the £14 million equity placing that was completed in choppy waters last December, and priced at a reassuring 85p. Approximately £8.5 million of the net proceeds from the fundraising was used to retire convertible debt. Solar Integrated also converted US$6.9 million of the outstanding convertible debt into equity at the placing price and restructured the remaining US$8.0 million of convertible debt. These measures have reduced annual interest payments from US$2.6 million to a much more manageable US$525,000. Solar Integrated’s underlying financial performance has also improved dramatically. Results for 2007 came in above guidance. At US$81.1 million, sales came in at twice the figure for the previous year, while gross margin widened to 17.8 per cent from 7.3 per cent. The margin expansion reflects a combination of improved cost control and higher selling prices. Adjusted Earnings before finance costs and tax came in at US$100,000 million, compared with a loss of US$15.6 million in 2006. Guidance for 2008 is for turnover to double to a range of between US$140 million to US$160 million, and for a consolidated gross margin in excess of 18 per cent. What’s more, Mr MacEwen is confident that SIT will be profitable in 2008. con't...
April 29, 2008 The Turnaround At Solar Integrated Technologies Gathers Momentum By Rue Swabey Randall MacEwen, chief executive of Los Angeles-based Solar Integrated Technologies, jokes that the last year feels more like ten years. But looking back, it’s clear that Mr MacEwen has achieved a great deal in a short time. When he took over in July 2006, Solar Integrated was in a precarious financial situation, as rapid growth had squeezed working capital and interest payments were eating away at cash flow. Investor sentiment was negative and the share price had hit a low of 18p. Today the balance sheet is strengthened, underlying financial performance is improving, and the order book is growing. The share price has recovered to 104p. Aim-traded Solar Integrated manufactures and distributes non-residential building integrated photovoltaic (BIPV) roofing systems. It targets customers that can give it repeat business, such as schools and government offices, and the large distribution centres operated by retailers and food producers. The company’s solar product is lightweight, flexible and durable, and generally forms the top layer of a customer’s roof. Customers include Tesco, Audi, Carrefour, Coca-Cola, Toyota and the US Air Force. The company does not disclose market share data but confirms that it has a leading position in its target markets. con't...