WACKER expands polysilicon production at its Burghausen site to 21,500 metric tons per year
Munich/Burghausen (euro adhoc) -
- DECISION TO EXPAND NOMINAL PRODUCTION CAPACITY BY ANOTHER 7,000 METRIC TONS PER YEAR - CAPITAL EXPENDITURES OF ABOUT 400 MILLION ARE ESTIMATED TO CREATE SOME 200 JOBS - CEO PETER-ALEXANDER WACKER: CAPACITY EXPANSION REFLECTS STRONG CUSTOMER DEMAND
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June 14, 2007 - WACKER plans to expand its annual polysilicon production capacity at its Burghausen site by an additional 7,000 metric tons to a total of 21,500 metric tons per year. Combined with production expansion measures already under way, WACKER´s nominal production capacity will more than triple from currently 6,500 metric tons per year. First material for sale from the new, so-called "capacity expansion stage 8" is expected to be available already in Q4 2009. The new plant is scheduled to reach full capacity until 2010. WACKER has earmarked capital expenditures of around EUR400 million for this project, which is expected to create some 200 new jobs.
By expanding its output, WACKER intends to meet soaring global demand for hyperpure polycrystalline silicon. The main growth driver is the solar industry, which requires silicon for the manufacture of solar cells. WACKER forecasts further solar-market growth over the next few years. Consequently, it expects solar-sector polysilicon demand to increase at an annual double-digit rate. As for the electronics sector, WACKER is expecting a rise of polysilicon demand by almost 10 percent per year.
"Today´s expansion decision reflects the continuously strong demand of our polysilicon customers," said Dr. Peter-Alexander Wacker, the Group´s president and CEO. "We are already the world´s second-largest polysilicon producer. By heavily increasing our capacities, we intend to keep narrowing the gap on the market leader. Also, we consider this project a major contribution to accelerate growth in the solar industry," added the CEO.
"Thanks to its advanced infrastructure and integrated production systems, Burghausen proved to be the best location for this capacity expansion - from both an economic and technical point of view," explained Ewald Schindlbeck, President of WACKER POLYSILICON. "An especially important factor in Burghausen´s favor," he added, "is the short time needed to complete the new facility there."
WACKER has been producing hyperpure polycrystalline silicon for the semiconductor industry at its Burghausen site for over 50 years. With solar-silicon demand rising, WACKER POLYSILICON has been increasing sales to the photovoltaics industry over the past six years while expanding capacity step by step.
This press release contains forward-looking statements based on assumptions and estimates of WACKER´s Executive Board. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include, among other things, changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER does not plan to update the forward-looking statements, nor does it assume the obligation to do so.
end of announcement euro adhoc 14.06.2007 07:30:00
Further inquiry note:
Christof Bachmair
Media Relations & Information
Tel.: +49 (0)89 6279 1830
E-Mail: christof.bachmair@wacker.com
Branche: Chemicals
ISIN: DE000WCH8881
WKN: WCH888
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Original content of: Wacker Chemie AG, transmitted by news aktuell