REC Silicon ASA - Butte Efficiency Improvements and Cost Cutting Initiatives
(Thomson Reuters ONE) -
Fornebu, Norway - September 20, 2017: REC Silicon ASA (REC Silicon) announced
today that several efficiency improvement and cost cutting initiatives have been
implemented at its Butte, Montana production facility. Further, due to
restrictions on solar grade polysilicon from the ongoing solar trade dispute
between the US and China, solar grade polysilicon production in Butte has been
curtailed. Going forward, the company will better align the polysilicon
production in Butte with semiconductor market demand by shifting the polysilicon
production mix. Because of this change in polysilicon production, there will be
less production and processing needs in Butte. Accordingly, a reduction in
headcount of approximately 30 employees has been undertaken.
Tore Torvund, REC Silicon's CEO commented, "Becoming leaner will allow Butte to
better compete in the semiconductor market, particularly at the current time,
where excessive polysilicon inventories have not yet cleared. We expect that
once those inventories do clear, semiconductor polysilicon demand will increase
and Butte will be well-positioned in the future."
For further information, please contact:
DeeAnna Worley
VP HSE, PSM and HR
Phone: +1 406 496 9953
Email: deeanna.worley(at)recsilicon.com
Christopher Bowes, Investor Relations
REC Silicon ASA
Phone: +1 509 793 8127
Email: chris.bowes(at)recsilicon.com
Nils O. Kjerstad
IR Contact Europe
Phone: +47 9135 6659
Email: nils.kjerstad(at)crux.no
About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering
high-purity polysilicon and silicon gas to the solar and electronics industries
worldwide. We combine over 30 years of experience and proprietary technology
with the needs of our customers, with annual production capacity of more than
20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on
the Oslo Stock Exchange (ticker: REC), the Company is headquartered in Fornebu,
Norway.
For more information, go to: www.recsilicon.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: REC Silicon ASA via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 20.09.2017 - 18:34 Uhr
Sprache: Deutsch
News-ID 560710
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