Eco Supplies Europe AB / Eco Supplies Expands in Solar and Acquires Gällivare Photovoltaic AB processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. 

Askim, Sweden 2010-05-26



Eco  Supplies Europe  AB today  announced that  the company  has entered  into a
binding  Agreement  to  acquire  a  major  producer of Photovoltaic ("PV") solar
modules: Gällivare PhotoVoltaic AB ("GPV").



Established  in 1992, GPV  is one  of Scandinavia's  most modern  and one of the
leading  companies in  the production  of high  quality PV  modules to the solar
industry.



Between  1999 and 2007 GPV  was owned  by Solar  World AG,  which is  one of the
world's  most  prominent  solar  electricity  groups.  Recently, GPV belonged to
Borevind AB.



During 2009, GPV reported revenues of over EUR49 Million (480 Million SEK). During
the  same year, and due to a  massive investment project that further modernized
and  automated the plant, the annual  production capacity increased from 22 Mega
Watts to 45 MW.



The  Agreement is  subject to  the successful  completion of certain conditions.
Further  information of these conditions will not be disclosed until the closing
of the acquisition of GPV has been made, which is expected in June 2010.



Svante Kumlin, Chairman of Eco Supplies, comments:



"I  am very happy that Eco Supplies has been able to execute on this acquisition
since  the incorporation of GPV is estimated  to add EUR50 Million in annual sales
to  the Eco Supplies Group, while maintaining stable profitability. Furthermore,
the  timing of the transaction is right since  the global PV market has come out
from  a depressed situation  in 2009 and the  solar market is  growing very fast
again with great demand for GPV's products".



Fredrik Staël von Holstein, CEO of Eco Supplies further comments:



"This  deal enables Eco Supplies to fulfill our  long term goal to be a true eco
supplier   within   renewable   energies   and  other  environmentally  friendly
industries.  Being a modern, high quality  and automated producer of PV modules,
GPV  acts in a  business segment that  will experience annual  growth figures of
30-40% in  the years to come.  GPV is well positioned  to take advantage of this
situation".





For  more  information  about  Eco  Supplies,  please  visit  www.ecosupplies.eu
<http://www.ecosupplies.eu/>,      or     via     email:     info@ecosupplies.eu
,   or   call   Fredrik   Staël  von  Holstein:  +49
172 430 17 98.





About      Eco      Supplies     Europe     AB:     visit     www.ecosupplies.eu
<http://www.ecosupplies.eu/>



Eco   Supplies   Europe   AB   is   a   listed   company   on   Deutsche   Börse
(www.boerse-frankfurt.de  <http://www.boerse-frankfurt.de/>)  under  the  ticker
7C0. It  is  a  fast  growing,  profitable,  holding  company with activities in
renewable  and  ecological  energy  supplies  and other environmentally friendly
industries.



About      Gällivare      PhotoVoltaic      AB:      visit     www.gpv-solar.com
<http://www.gpv-solar.com/>



Established  in 1992, Gällivare PhotoVoltaic AB is a modern Swedish manufacturer
of  photovoltaic solar  modules of  the highest  quality. The  annual production
capacity is currently 45 Mega Watts.



[HUG#1419051]



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Eco Supplies Europe AB
Stora Åvägen 21 Askim Sweden


Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;


    Eco Supplies Expands in Solar and Acquires Gällivare Photovoltaic AB: http://hugin.info/142396/R/1419051/369234.pdf