Day4Energy has entered an agreement to acquire ACI-ecotec

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Bangalore: Day4Energy has entered an agreement in principle to purchase the German-based PV equipment company, ACI-ecotect. Day4 will attain 100 percentage of ACI in all stock transaction of up to 10.8 million shares of Day4, subject to post closing adjustment.

George Rubin, President of Day4, said, "ACI's engineering and manufacturing system integration capabilities are critical to our ability to deliver our industry leading technology platform to the PV industry. What makes this acquisition particularly attractive is the level of interest ACI was able to generate among its customers during the test marketing of the Day4 manufacturing solution package and overall business proposition."

In addition to the board of director’s approval, the acquirement of ACI rests in definitive documentation and all required consents and approvals – including that of the Toronto Stock Exchange. Day4 looks forward to combining its technology with ACI’s specialized industry knowledge and equipment to be able to more readily offer its turn-key manufacturing technology solution for the production of PV cells and PV modules. Both companies look to close the acquisition in the first half of this year.

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