EANS-News: WACKER Polysilicon Production Facilities at Nünchritz Officially Come on Stream
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information Subtitle: - New production facilities increase WACKERs capacity by a total of 15,000 metric tons per year - Investments of around 900 million in the Nünchritz plant create over 500 new jobs - CEO Rudolf Staudigl: We are optimistic about the outlook for photovoltaics Munich (euro adhoc) - April 27, 2012 - Wacker Chemie AG's hyperpure polysilicon production facilities at its Nünchritz site officially went into operation today. In the presence of Stanislaw Tillich, the prime minister of Saxony, and numerous other high-ranking guests from politics, business, and public administration, the Munich-based chemical company officially inaugurated its new production complex. Overall, WACKER has invested some EUR900 million in the facilities, thereby creating more than 500 new jobs. Initial production began at the facilities in fall last year, and the start-up phase is now virtually complete. The plant is expected to reach its full nominal capacity of some 15,000 metric tons per year within the next few weeks. All in all, WACKER is ramping up its total capacity for polysilicon to around 52,000 metric tons by the end of 2012, making it one of the largest producers worldwide. With the new polysilicon site currently under construction in Charleston (Tennessee, USA), WACKER's total annual production capacity will rise to around 70,000 metric tons by 2014, strengthening its position as a leading producer of high-quality semiconductor- and solar-grade silicon. Rudolf Staudigl, president and CEO of Wacker Chemie AG, said in his speech: "This expansion of capacity is a key prerequisite to enable us - now and in the years to come - to meet our customers' demand for top-quality polysilicon for use in highly efficient solar cells. WACKER's entire polysilicon output, including that from Nünchritz, is almost completely under contract until the end of 2015." After massive overcapacity in the solar industry and consolidation within the sector had a strong impact on WACKER's polysilicon business in Q4 2011, demand turned up markedly again in the first few months of 2012. Sales in Q1 2012 were almost 50 percent higher than in the same period last year. Currently, all of the company's production facilities are running at full capacity. From today's viewpoint, demand will remain robust in the months ahead. In his speech, Staudigl also spoke about WACKER's expectations for the solar market. "We are very optimistic about the outlook for photovoltaics because the significant price decline for polysilicon, wafers, cells and modules strengthens photovoltaics' competitiveness as an energy source," highligthed the CEO. This means there will be new markets to access in future, he said, with the main growth markets being China, India and the USA. "The polysilicon from Nünchritz will assist us in meeting this growth in demand", Staudigl emphasized in his remarks. WACKER in Nünchritz The Nünchritz plant was founded as a chemical site in 1900 and became part of the WACKER Group in 1998. Meanwhile, approximately EUR1.5 billion has been invested in the Nünchritz plant, making it one of the world's largest and most modern production sites for silicones and hyperpure polysilicon. More than 1,400 people currently work at WACKER Nünchritz. This press release contains forward-looking statements based on assumptions and estimates of WACKER's Executive Board. Although we assume the expectations in these forwardlooking 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 forwardlooking statements, nor does it assume the obligation to do so. Further inquiry note: Christof Bachmair Media Relations & Information Tel.: +49 (0)89 6279 1830 E-Mail: christof.bachmair@wacker.com end of announcement euro adhoc -------------------------------------------------------------------------------- company: Wacker Chemie AG Hanns-Seidel-Platz 4 D-81737 München phone: +49 (0) 89 6279 01 FAX: +49 (0) 89 6279 1770 mail: info@wacker.com WWW: http://www.wacker.com sector: Chemicals ISIN: DE000WCH8881 indexes: MDAX, CDAX, Prime All Share stockmarkets: free trade: Hannover, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing: Berlin, regulated dealing/prime standard: Frankfurt language: English
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