Solar Interest in Germany for SIT

[] Photovoltaic systems manufacturer Solar Integrated Technologies (SIT) of California has entered into an agreement with the shareholders of a German based roofing and photovoltaic (PV) installer, Dachland. SIT will acquire 30 percent of its issued share capital for EUR 1.5 million (USD 2 million). SIT also has the option to acquire the remaining 70 percent of shares in Dachland by April 2006. Acquiring shares in Dachland enables SIT to increase its presence in Germany, and develop a profile in Europe to promote their business. Dachland is a privately-owned roofing contractor that specializes in installing single ply, green and PV roofing systems.
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