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ARISE Begins Construction in Bischofswerda
BISCHOFSWERDA, Germany, September 12 /PRNewswire/ -- ARISE Technologies, a Canadian solar cell manufacturer, is breaking ground on its new facility in the Saxon city of Bischofswerda. The EUR50 million (US$ 68.95 million, C$72.74 million) investment will employ up to 100 people. This investment is the company's first entry into the German and European markets and it is one of numerous companies to choose eastern Germany as a site for PV investment. Until recently, the Toronto-based company only had a pilot line running in Canada. With its investment in Bischofswerda, ARISE is expanding into serial production while also establishing its presence in the European market. "We are pleased to begin the construction of our plant in Bischofswerda," noted ARISE CEO Ian MacLellan, "Once completed, it will be able to house three production lines with an annual capacity of up to 125 MW." Invest in Germany, under its former name Industrial Investment Council, advised ARISE with its investment decision. Germany's official investment promotion agency convinced ARISE to begin serial production outside of Canada by showing the company the advantages of an investment in Germany: access to skilled and flexible labor, a presence in the world's largest PV market, and the availability of investment incentives. "ARISE is one of many companies in the PV field to make an investment in Germany in recent years. They are not only attracted by the skills of German employees and the proximity to other European countries, but also by the favorable legal framework in Germany. Germany's Renewable Energies Act sets a 'feed-in-tariff' for energy harnessed from renewables sources that is particularly favorable toward PV," noted Ralf Segeth, Senior Manager with Invest in Germany and principal advisor to ARISE. Invest in Germany is the official investment promotion agency of Germany. Its mandate is to assist and advise international companies about investment opportunities in Germany. Invest in Germany provides investors with comprehensive support from site selection to the implementation of investment decisions. http://www.invest-in-germany.com Media Contact: Eva Henkel, Invest in Germany Phone: +49-30-200099-173 Fax: +49-30-200099-111 Email: henkel@invest-in-germany.com
