REC makes further adjustments to wafer production in Norway
(Thomson Reuters ONE) -
Sandvika, January 4, 2012: To reduce its exposure towards a continued weak spot
market for wafers, Renewable Energy Corporation ASA (REC) has decided to
initiate a process with the trade unions, with the intention to temporary halt
50 percent of the capacity of the 300 MW monocrystalline wafer facility in
Glomfjord, Norway throughout the first quarter 2012. The temporary shutdown is
expected to affect approximately 65 employees.
On November 29, REC announced temporary halt of 60 percent of the production at
the 650 MW multicrystalline wafer facility at Herøya, Norway. After these
adjustments REC expects to produce approximately 105 MW of multi- and
monocrystalline wafers in Norway in the first quarter 2012.
The integrated wafer, cell and module facility in Singapore (700 MW annual wafer
to module capacity) and the polysilicon facilities in the US (19.000 MT annual
polysilicon capacity) continues to operate at full capacity.
For more information, please contact:
Mikkel Tørud, VP Investor relations; +47 976 99 144
For press and media, please contact:
John Andersen, Jr., Group COO & EVP Wafer, Cells and Modules; +47 901 74 080
About REC
REC is a leading vertically integrated player in the solar energy industry.
Ranked among the world's largest producers of polysilicon and wafers for solar
applications and a rapidly growing manufacturer of solar cells and modules, REC
also engages in project development activities in selected PV segments. Founded
in Norway in 1996, REC is an international solar company, employing more than
3,900 people worldwide with revenues close to NOK 14 billion in 2010. Please
visitwww.recgroup.com to learn more about REC.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Renewable Energy Corporation ASA via Thomson Reuters ONE
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Datum: 04.01.2012 - 08:15 Uhr
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News-ID 100843
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