Energy Conversion Devices to Buy Solar Integrated

22 July 2009 (Last Updated July 22nd, 2009 18:30)

US Solar panel product maker Energy Conversion Devices says it will buy Solar Integrated Technologies for approximately $11.2m. Energy Conversion said it will pay 6.75p (11¢) a share for Solar Integrated, a Los Angeles-based company listed on London's AIM stock exchange that makes buil

US Solar panel product maker Energy Conversion Devices says it will buy Solar Integrated Technologies for approximately $11.2m.

Energy Conversion said it will pay 6.75p (11¢) a share for Solar Integrated, a Los Angeles-based company listed on London's AIM stock exchange that makes building-integrated photovoltaic roofing systems for commercial rooftops, writes Associated Press.

ECD said it plans to finance the deal using existing corporate funds. Shares of the company have fallen 9¢ to $12.75.