This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

MEMC And Its SunEdison Subsidiary Join Flextronics To Celebrate Creation Of Approximately 400 New Jobs Supporting Solar Module Production

NEWMARKET, Ontario and ST. PETERS, Mo., July 18, 2011 /PRNewswire/ -- MEMC Electronic Materials, Inc. (NYSE: WFR), and SunEdison, its solar energy subsidiary, along with manufacturing partner Flextronics (NASDAQ: FLEX), today announced the creation of approximately 400 jobs to ramp production of MEMC solar panels being manufactured at Flextronics' facility in Newmarket, Ontario. This announcement was made during a dedication ceremony of the new line, which produces MEMC photovoltaic (PV) modules that will be used by SunEdison and its channel partners for solar PV projects.

The companies welcomed the Honourable Sandra Pupatello, Ontario Minister of Economic Development and Trade, to Flextronics' manufacturing facilities to see the modules being built and to speak with the employees who are benefiting from the new green economy.

"Companies such as MEMC, their SunEdison subsidiary and Flextronics are creating real green jobs in local communities such as Newmarket, and are helping to build a renewable industry in the province through their investment in solar manufacturing," explained Minister Pupatello. "With each investment, Ontario is building toward an energy economy that will contribute to cleaner air and sustainable jobs for today and tomorrow."

At the event, Minister Pupatello was joined on a guided tour of the Flextronics manufacturing plant by the Mayor of Newmarket Tony Van Bynen, representatives from the Ontario Power Authority and delegates from the Town of Newmarket ( York region). Executives from Flextronics and MEMC were also in attendance, along with more than 350 solar industry employees and stakeholders.

"The new jobs created through this investment make a significant impact on the prosperity and sustainability of our community," said Mayor Van Bynen. "As a leader in environmental sustainability, we are thrilled to be a part of a growing renewable industry that brings real jobs to our community through companies like MEMC."

The job creation is a direct result of the 60 percent domestic content requirement of Ontario's Feed-in Tariff (FIT) Program. MEMC and Flextronics' panel manufacturing facility signals a long-term investment in the region to help facilitate a sustainable green economy for the foreseeable future.  

In addition to job creation through investments in solar panel and racking manufacturing, SunEdison's Toronto office has grown from two full-time employees in November 2009 to more than 50 employees engaged in the delivery of both ground-mount and rooftop solar projects across the province.

"On behalf of MEMC and our SunEdison subsidiary, we are pleased to invest in this green solar production opportunity that benefits the local economy, creates long-term job opportunities and is good for our environment," said Ken Hannah, Executive Vice President of MEMC.  

"We are very pleased to be expanding the number of green jobs in the Town of Newmarket through the partnership with global leaders in renewable energy such as MEMC and SunEdison," said E.C. Sykes, President, Industrial and Emerging Industries at Flextronics. "We are committed to providing clean tech manufacturing solutions and we look forward to contributing to the growth of the Cleantech industry here in Ontario."

About SunEdison

SunEdison is a global provider of solar-energy services. The company develops, finances, installs and operates distributed power plants using proven photovoltaic technologies, delivering fully managed solar energy services for its commercial, government and utility customers. In 2010 SunEdison deployed more than 160 megawatts of solar throughout the world. For more information about SunEdison, please visit www.sunedison.com.

About MEMC

MEMC is a global leader in semiconductor and solar technology. MEMC has been a pioneer in the design and development of silicon wafer technologies for more than 50 years. With R&D and manufacturing facilities in the U.S., Europe and Asia, MEMC enables the next generation of high-performance semiconductor devices and solar cells. Through its SunEdison subsidiary, MEMC is also a developer of solar power projects and a worldwide leader in solar energy services. MEMC's common stock is listed on the New York Stock Exchange under the symbol "WFR" and is included in the S&P 500 Index. For more information about MEMC, please visit www.memc.com.

About Flextronics

Headquartered in Singapore, Flextronics is a leading Fortune Global 500 Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to automotive, computing, consumer, digital, industrial, infrastructure, medical and mobile OEMs. We design, build, ship and service electronics products for our customers through a network of facilities in 30 countries on four continents. We provide after-market and field services to support customer end-to-end supply chain requirements. By combining design and engineering solutions with core electronics manufacturing and logistics services, vertically integrated with components technologies, we optimize our customers' operations, lower their costs and reduce time to market. For more information, please visit http://www.flextronics.com.

SOURCE MEMC Electronic Materials, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,888.94 -26.13 -0.15%
S&P 500 1,961.77 -2.91 -0.15%
NASDAQ 4,399.7620 +3.5580 0.08%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs