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REC to reduce Siemens-based solar grade silicon production at its Moses Lake, WA facility


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Copyright © Thomson Reuters 2013. All rights reserved.
2013-01-10 19:02:32 -

Sandvika, January 10, 2013: Due to continued market and price pressures for
solar grade polysilicon, Renewable Energy Corporation ASA (REC) has chosen to
temporarily reduce Siemens-based solar grade silicon production at its Moses
Lake, WA, USA, facility by 2,400 MT. The production reduction will be specific
to the Polysilicon I facility where the solar grade chunk material is produced.
Granular solar grade polysilicon from REC's proprietary Fluid Bed Reactor
process and electronic grade polysilicon production at the Butte facility are
scheduled to produce 20,000 MT of polysilicon in 2013.

This decision will result in a reduction of 46 positions. The Silicon division
of REC will endeavor to utilize some of the affected employees to fill existing
vacancies.

"To remain competitive, the organization in Moses Lake has worked very hard this
past year 
to drive operating costs down, but under these current economic conditions it is not viable to continue production when market prices for the Siemens solar chunk product has fallen well below the cost to produce it," said Tore Torvund, President, Silicon. For more information, please contact: In Norway: Mikkel Tørud, SVP Investor Relations: +47 976 99 144 In the US: Sharon Palmerton, Head of Community Affairs, Silicon: +1 509 760 6314 About REC REC is a leading global provider of solar electricity solutions. With nearly two decades of expertise, we offer sustainable, high-performing products, services and investment opportunities for the solar and electronics industries. Together with our partners, we create value by providing solutions that better meet the world's growing electricity needs. Our 2,400 employees worldwide generated revenues of more than NOK 13 billion in 2011, approximately EUR 1.7 billion or USD 2.4 billion. To see more of what REC can offer, visit www.recgroup.com 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 [HUG#1669663]


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