Aug 28, 2009 (SmarTrend(R) News Watch via COMTEX) ----Siemens AG (NYSE:SI) signed a deal with Israel's solar energy company, Arava Power, to acquire a 40% stake for $15 million, according to the Jerusalem Post. The deal marks the largest foreign investment ever made in an Israeli solar development company. President and CEO of Siemens Peter Loscher said, "Israel is an ideal place to develop our solar business because of its intense sunlight, and its constant demand for energy. This investment will enable construction of commercial solar fields in Israel from the Dead Sea to the Red Sea for the first time."

Write to Chip Brian at cbrian@tradethetrend.com

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Copyright, Comtex News Network, Inc. 2009
   
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   As of Monday, 08-24-2009 23:59, the latest Comtex SmarTrend� Alert, 
   an automated pattern recognition system, indicated an UPTREND on 
   11-25-2008 for SI @ $62.15.
   
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