Arise Aquisition

03/13/12 - Salamon Group, Inc. acquires Arise Technologies Corporation

Salamon Group Inc, Sunlogics Power Fund Management Inc., the Company's wholly owned subsidiary, completed the court approved acquisition of the assets of ARISE Technologies Corporation.

 

Arise's solar system business generated over $4 million in revenue last year, and the first quarter revenues are expected to exceed all of last year's total revenues, with expectation of $16 million in revenue for 2012

 

According to a preliminary draft valuation report performed by one of the top 4 accounting firms in the world dated August 31, 2011, the ARISE Assets acquired by the Company were valued between $16 million and $22 million. According to the report, ARISE's patented technology will have a variable cost to produce silicon of $13.49/KG. Based on this assessment, these manufacturing costs would be 50% below the current cost of manufacturing silicon.

The Company expects to be in a position to find a partner for the silicon technology now that these assets are no longer in a distressed asset category, and intends to use partnering agreements for the ARISE technology for its own silicon manufacturing needs when appropriate, significantly lowering the manufacturing cost of silicon solar modules and increasing profitability of its Solar power projects.

 

For complete information on this exciting acquisition visit the Company’s Website:  www.arisetech.com/