REC secures a NOK 1.2 billion wafer sales contract
(Thomson Reuters ONE) -
Sandvika, December 22, 2010: REC has entered into a two year multicrystalline
wafer sales contract with an Asian cell and module producer. Under the
agreement, REC will deliver wafers worth approximately NOK 1.2 billion from
beginning of 2011 to the end of 2012.
The agreement is structured as a two year take-or-pay contract and wafers will
be delivered based on the prevailing market prices. REC has today received the
first installment of a prepayment totaling approximately 10 percent of the
estimated contract value.
As REC's wafer production continues to grow, REC expects to increase shipments
under the existing long-term wafer sales contracts as well as further broaden
its customer base. In 2011, REC expects to deliver wafers to some 12-15 external
customers with no single customer representing more than approximately 10
percent of the total wafer production in Norway.
For further information, please contact:
Mikkel Tørud, VP & IRO, phone: +47 976 99 144
About REC
REC is a leading vertically integrated player in the solar energy industry. REC
is among the world's largest producers of polysilicon and wafers for solar
applications, and a rapidly growing manufacturer of solar cells and modules. REC
is also engaged in project development activities in selected PV segments.
Founded in Norway, REC is an international solar company, employing more than
4,100 people worldwide. REC had revenues in excess of NOK 9 billion in 2009.
Please visit www.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: 22.12.2010 - 08:00 Uhr
Sprache: Deutsch
News-ID 49979
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