Isofotón reaps positive Q1 2011 results

The Spanish photovoltaic company has already reaped €32 million in the first quarter of fiscal year 2011. This is over double what it made in the same period last year.

It attributes the success to the roll out of its new manufacturing line, which is expected to double its production capacity.

Now Isofotón is focussed on doubling its 2010 sales, and international expansion. Consequently, the company says it is opening and strengthening its commercial offices in Germany, Italy, France, the U.S., South Korea, China and the Middle East.

It adds that over the next three years, its goal is to increase production capacity fivefold.

Looking ahead, it believes that the German, Italian and U.S. markets will recover this quarter.