VALOE ESTIMATES IT WILL CONCLUDE THE LOCAL FINANCING NEGOTIATIONS RELATING TO THE FIRST MANUFACTURING PARTNERSHIP AGREEMENT IN NOVEMBER 2015


Valoe Corporation      Stock Exchange Release 30 October 2015 at 14.30 Finnish time

 

VALOE ESTIMATES IT WILL CONCLUDE THE LOCAL FINANCING NEGOTIATIONS RELATING TO THE FIRST MANUFACTURING PARTNERSHIP AGREEMENT IN NOVEMBER 2015

On 29 June 2015 Valoe Corporation announced that it had concluded the business negotiations for the first manufacturing partnership agreement with a foreign customer, but that the sale of a module manufacturing plant is subject to local project financing. At the end of September the company estimated it will conclude the financing negotiations by the end of October.

The negotiations have made positive progress but are still going on. According to Valoe’s estimation the negotiations for local financing will be closed by the end of November 2015. The company will disclose a separate release on a possible order relating to the manufacturing partnership agreement only after financing will be secured.

Attainment of project financing for the first manufacturing partnership involves risks. It is not certain that local financing for building a solar module plant in accordance with the manufacturing partnership agreement will be secured. Should the negotiations for local financing fail, the manufacturing partnership agreement and a possible order relating to it will not materialize.

 

In Mikkeli 30 October 2015

Valoe Corporation

Board of Directors

 

For more information:
Iikka Savisalo
President and CEO, Valoe Corporation
Tel. +358 40 521 6082, email: iikka.savisalo@valoe.com

 

Distribution:
NASDAQ OMX, Helsinki
Main media
www.valoe.com

 

Valoe Corporation specializes in the clean energy, especially in photovoltaic solutions. Valoe provides automated production technology for solar modules based on the company’s own technology; production lines for modules; solar modules and special components for solar modules. Valoe's head office is located in Mikkeli, Finland.