• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Preformed Line Products Forms Solar Joint Venture Company in Australia

Posted on: Wednesday, 11 June 2008, 12:00 CDT

MAYFIELD VILLAGE, Ohio, June 11 /PRNewswire-FirstCall/ Preformed Line Products Company ("PLP") announced the formation of a new solar energy joint venture company in Australia. The joint venture was formed between PLP's subsidiary Preformed Line Products Australia and BlueSky Energy, a solar systems integration and installation business based in Sydney, Australia. As part of the transaction, BlueSky Energy will be merged into the new joint venture company which will operate under the name BlueSky Energy Australia.

The joint venture company will be focused on providing turnkey systems and hardware solutions for residential, commercial and utility scale solar applications. This joint venture further expands PLP's renewable energy platform that was established with its acquisition of Albuquerque, New Mexico based Direct Power and Water Corporation in March 2007.

The new company, headed by Mr. Glenn Cooper, the founder of BlueSky Energy, brings together the significant manufacturing and engineering resources of PLP Australia along with the solar energy marketing and technical expertise of Mr. Cooper.

With the demand for solar energy systems increasing around the world, BlueSky Energy Australia allows PLP to further extend its global presence in the solar energy market and capitalize on the growing interest in alternative forms of energy.

Founded in 1947, Preformed Line Products is an international designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for energy, communications and broadband network companies. Headquartered in Cleveland, Ohio, the Company operates three domestic manufacturing centers, located in Rogers, Arkansas, Albuquerque, New Mexico and Albemarle, North Carolina. PLP serves worldwide markets through international operations in Australia, Brazil, Canada, China, England, Mexico, New Zealand, Poland, South Africa, Spain and Thailand.

This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the Company, including those statements regarding the Company's and management's beliefs and expectations concerning the Company's future performance or anticipated financial results, among others. Except for historical information, the matters discussed in this release are forward-looking statements that involve risks and uncertainties which may cause results to differ materially from those set forth in those statements. Among other things, factors that could cause actual results to differ materially from those expressed in such forward-looking statements include the strength of the economy and demand for the Company's products, increases in raw material prices, the Company's ability to identify, complete and integrate acquisitions for profitable growth, and other factors described under the heading "Forward-Looking Statements" in the Company's Form 10-K filed with the SEC on April 7, 2008. The Form 10-K and the Company's other filings with the SEC can be found on the SEC's website at http://www.sec.gov/. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Preformed Line Products Company

CONTACT: Dennis McKenna, Vice President, Marketing & Global BusinessDevelopment of Preformed Line Products, +1-440-461-5200, Fax: 440-442-8816

Web site: http://www.preformed.com/

Source: PRNewswire

More News in this Category