AstroPower Asset Sale Approved by Court.Energy Editors/Business Editors NEWARK, Del.--(BUSINESS WIRE)--March 12, 2004 AstroPower, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :APWRQ.PK) announced today the US Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. presiding over AstroPower's Chapter 11 proceeding approved the sale of most of AstroPower Inc.'s US business assets to General Electric Company's designee des·ig·nee n. A person who has been designated. Heritage Power LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . The sale price was $15 million cash plus the assumption of certain liabilities. The sale is expected to close by the end of March. About AstroPower Headquartered in Newark, Delaware Newark is a city in New Castle County, Delaware, 12 miles (19 km) west-southwest of Wilmington. According to 2006 Census Bureau estimates, the population of the city is 30,060.[1] Newark is the home of the University of Delaware. , AstroPower manufactures solar electric power products, and is a leading provider of solar electric power systems for the mainstream residential market. AstroPower develops, manufactures, markets and sells a range of solar electric power generation products, including solar cells, modules and panels, as well as its SunChoice (TM) pre-packaged systems for the global marketplace. Solar electric power systems provide a clean, renewable source of electricity in both off-grid and on-grid applications. For more information, please visit www.astropower.com. This press release contains forward-looking statements that are made pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements involve risks and uncertainties, as described in the Company's registration statements and periodic reports filed with the Securities and Exchange Commission. As a result, there can be no assurance that the Company's future results will not be materially different from those projected. The projections contained herein speak only of the Company's expectations as of the date of this press release. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which such statement is based. |
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