Carmanah buys SPS solar company

Friday, May 27, 2005

Carmanah Technologies Corp. of Victoria, B.C., its purchase of Soltek Powersource Ltd. have entered into a definitive agreement whereby Carmanah will acquire all the issued and outstanding shares of SPS, a leading privately-held manufacturer and supplier of solar power systems for industrial, government, residential and retail applications.

With approximately 60 per cent market share, SPS is the largest Canadian supplier of solar systems and solar-related equipment.