AstroPower (APWR, $35, unch.) has added a little more bulk to its arsenal with the acquisition of Atersa, a Spanish company that manufactures solar electric power modules. Atersa also provides services relating to balance-of-system design and integration. AstroPower first announced the acquisition in late July, but the final stages of the deal weren’t concluded until earlier this month.
TODD’S TAKE: Given the high growth potential of the alternative energy sector, we are certainly pleased with this acquisition and, more importantly, with how the acquisition will benefit AstroPower in coming quarters. The world’s largest independent manufacturer of solar electric products will only improve by adding Atersa to its stable. This deal will also help AstroPower to make quick inroads into a number of key foreign markets.
AstroPower develops, manufactures and sells solar cells, modules, panels and systems for generating solar electric power. The alternative energy market is set for explosive growth in the coming years. Government regulation will help in this regard, as will growing consumer demand for more environmentally friendly energy options. Because of these reasons, we believe AstroPower provides investors with a unique opportunity to invest in a proven energy company with remarkable growth potential
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