ATS, Spheral Solar(TM) Power and Elk Premium Building
Products to develop new generation photovaltaic roofing products
TSX: ATA
CAMBRIDGE, ON, Nov. 14 /CNW/ - ATS Automation Tooling Systems Inc., its
subsidiary Spheral Solar(TM) Power and Elk Premium Building Products Inc.
(Elk), a subsidiary of ElkCorp., today announced they have entered into a
memorandum of understanding under which they intend to work together to
design, manufacture, test and commercialize a new generation of fully
integrated photovoltaic roofing products, primarily for use in residential
buildings.
The new products will take advantage of Elk's extensive knowledge and
expertise in the residential roofing materials market and the unique qualities
of Spheral Solar(TM) Technology.
The companies will bring considerable expertise to developing BIPV or
Building-Integrated Photovoltaic products, which have long been considered the
ultimate solution for the photovoltaic industry because significant reductions
in material and installation costs can be achieved by making the photovoltaics
an integral part of a building.
Elk is a leader in building product technology and has developed numerous
integrated solutions for the roofing industry as well as consumer goods. These
products have served to reduce costs, increase safety and productivity. Among
these are the VersaShield(R) line of fire barrier products and RidgeCrest(R)
line of integrated ridge cap and vent.
ATS and SSP are currently commercializing their proprietary Spheral Solar
(TM) Technology and building their first 20 megawatt production facility in
Cambridge, Ontario, Canada. This revolutionary new photovoltaic technology
allows for solar cells to be manufactured using thousands of tiny silicon
beads bonded in an aluminum foil. The resulting flexible solar cell is
expected to dramatically reduce the cost of solar energy and open a broad
range of new uses of solar power by industrial, commercial and residential
users worldwide. The cells are lightweight, pliable and break resistant and
can be formed into a variety of shapes and sizes.
In announcing this working agreement, Milfred Hammerbacher, SSP's
President said: "Finding strong partners in the building materials industry is
key to our commercialization plan. Elk brings to this relationship a wealth of
experience, earned over the past 45+ years, in the roofing industry and a
proven track record of technological innovation. We are excited to have them
involved in the development of truly innovative building products utilizing
our new Spheral Solar(TM) Technology."
Added Tom Karol, ElkCorp's chairman and CEO: "Developing and integrating
value added technology is fundamental to Elk's business process. The
successful integration of photovoltaic technology into cost effective and
aesthetically pleasing products is a project for which Elk is well
positioned."
Details of the non-binding agreement between the three companies are
subject to negotiation and will be defined upon completion of a definitive
agreement.
The Advantages of Building-Integrated Photovoltaics
Unlike traditional photovoltaic systems which generally require mounting
hardware and numerous roof penetrations for installation, BIPV products can be
installed much like a building material without costly hardware and roof
penetrations. Additionally, the overall aesthetics of the building will not be
impacted by the photovoltaic system.
About ElkCorp
ElkCorp, through its subsidiaries, manufactures Elk brand premium roofing
and building products (over 90% of ElkCorp's consolidated sales of US
$506 million for the year ended June 30, 2003) and provides technologically
advanced products and services to other industries. Each of ElkCorp's
principal operating subsidiaries is the leader or one of the leaders within
its particular market. Its common stock is listed on the New York Stock
Exchange (ticker symbol: ELK).
About ATS and SSP
ATS Automation Tooling Systems Inc. (www.atsautomation.com) is the
industry's leading designer and producer of turn-key automation manufacturing
and test systems, which are used in a variety of industries including:
automotive, computer/electronics, healthcare, and consumer products. Spheral
Solar(TM) Power (www.spheralsolar.com), is a subsidiary of ATS based in
Cambridge, Ontario, that is dedicated to commercializing Spheral Solar(TM)
Technology (SST), a revolutionary solar technology that combines the high
efficiency of traditional silicon technology with the flexibility and
durability of thin film technology. ATS employs approximately 3,700 people at
26 facilities in Canada, the United States, Europe and Asia. The company's
shares are traded on the Toronto Stock Exchange under the symbol ATA.
Certain forward looking statements are made in this news release
including statements regarding possible future business. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties, including, without limitation, continued acceptance of the
products, technologies, services and customer requirements of ATS, ElkCorp.
and SSP and other risks detailed from time to time in periodic reports filed
by the companies with regulatory authorities.
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For further information: Ron Jutras, Executive Vice President and Chief Financial Officer, (519) 653 6500