Jul 6, 2017

News provided by 13:00 ET Share this article MILAN, July 6, 2017 /PRNewswire/ -- RECOM, one of the fastest growing companies in the European solar industry, proudly announces the successful acquisition of the French manufacturer Sillia VL, including the Lannion production site in Brittany, north-western France. RECOM not only commits to invest and further develop these facilities, but is also undertaking all the obligations for the 44 employees of the factory and will continue to promote the significance of European based module manufacturing that insures jobs and confirms the importance of quality made in Europe. Established in 2007, RECOM has made its mark in the solar power industry by growing as a PV module manufacturer and an IPP with worldwide presence. With European production expanding now to three EU countries, Italy, Poland and France, secured financial stability as well as a proven track record in projects worldwide, RECOM has strengthened its strategic European and global potential and position in the solar world. Sillia VL was founded in December 2008, and soon became one of the main actors in the French PV market. The production site in Lannion has at the moment three independent production lines, reaching an annual capacity of 50 MW. Until the end of the year, RECOM plans to upgrade it to 150 MW through continuous investments in modern equipment and automated production tools, as well as enhanced quality control procedures during and after production, ensuring high quality end products to customers. "The main priority for the next couple of weeks will be for us to achieve a deeper understanding of Sillia's organizational culture and to match the administrative systems of both companies as to ensure the success of our recent acquisition" says RECOM CEO, Hamlet Tunyan. Sillia currently has a pipeline of 197 MW of projects that have to be delivered within the coming 8 months and our experts are reorganizing production in order to ensure timely and smooth deliveries. RECOM is committed to strengthen its position on the French market, which has a capacity of over 2GW. Our aim is to become, within the next two years, the leading solar panel provider for this highly demanding market, contribute to its growth by producing premium PV modules and pursuing new expansion horizons. About RECOM Established in 2007, RECOM has marked a fast and steady growth from a PV module manufacturer to an IPP. RECOM's business philosophy is focusing on promoting cost-efficient, reliable, environmentally friendly solutions and state-of-the-art production of PV modules in Europe and Asia. To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/recom-strengths-its-top-eu-manufacturer-position-by-acquiring-sillia-vl-300484037.html SOURCE RECOM