26 August 2011

OPEL Solar International Inc changes name to OPEL Technologies Inc

OPEL Solar International Inc of Toronto, Ontario, Canada has filed Articles of Amendments under the Business Corporation Act (Ontario), dated 25 August, changing its name to OPEL Technologies Inc. There is no consolidation of capital, and no exchange of shares is required.

The firm is also in the process of changing the name of its subsidiary OPEL Inc to OPEL Solar Inc.

Trading on the TSX Venture Exchange under the new name will commence on 29 August. The Stock Symbol ‘OPL’ will remain the same, but the CUSIP and ISIN numbers have been changed to 683488 10 0 and CA34881006 respectively.

The purpose of the name changes is to better reflect the two distinct segments of the firm’s businesses and to avoid confusion caused by the former name only reflecting the solar side of the business.

“The name change to OPEL Technologies better exemplifies the scope of our expanding company,” says OPEL’s CEO Leon M. Pierhal. “The organization has exhibited significant growth and recognition in each of its distinct business divisions, and it is important to establish a parent company that captures each group's mission as they gain momentum and growth in the future,” he adds.

The firm is engaged in (a) the design, manufacture and marketing of high-concentration photovoltaic panels and dual- and single-axis trackers for related concentration photovoltaic (CPV) and PV systems for energy applications worldwide (through OPEL Solar Inc) and (b) the design of III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory, through US affiliate OPEL Defense Integrated Systems (ODIS Inc) of Shelton, CT, USA.

OPEL Solar Inc also has a Belgium-based subsidiary, OPL Solar Europe SPRL, which addresses business opportunities in Europe. In December 2010, OPEL Solar Inc formed OPEL Solar Asia (OSA), a joint venture with Ecotech Environmental Technology Ltd based in Hong Kong, in order to service the China market.

See related items:

OPEL Solar International’s AGM approves change of name to OPEL Technologies Inc

Tags: OPEL Solar

Visit: www.opelinc.com