REC extends temporary shutdown of production ca...
Sandvika, August 25, 2011: Renewable Energy Corporation ASA (REC) extends
temporary shutdown of production capacity.
REC has earlier announced temporary shutdown of production capacity in Norway
throughout the third quarter.
Market prices have stabilized but not recovered over the last few months, and
REC has therefore decided to extend the capacity shutdowns in Norway until year
end. Â The shutdowns represent approximately 45 percent of the wafer capacity in
Norway, and include the oldest wafer plants at Herøya and the multi wafer plant
in Glomfjord in addition to the cell plant in Narvik. Approximately 600
employees are expected to be affected by the extended temporary lay-offs. REC
continues to evaluate the appropriate plant structure in Norway going forward.
REC Silicon's facilities in the US, and the integrated wafer, cell and module
production facility in Singapore continue to operate at full capacity.
For more information, please contact;
Mikkel Tørud, VP & IRO; +47 976 99 144
Peder Poulsson, Investor Relations Analyst; +47Â 950 26Â 311
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
[HUG#1541060]
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund