PVCS Pv Crystalox Solar Plc

RNS Number:0752E
PV Crystalox Solar PLC
19 September 2007



For immediate release: 19 September 2007



         PV Crystalox Solar production facility for solar-grade silicon
                                        
Ground-breaking ceremony with the Minister for Economic Affairs Reiner Haseloff
                                        
                                        
PV Crystalox Solar PLC today celebrated its ground-breaking ceremony for its
production facility for solar-grade silicon in Bitterfeld, Germany. This sets a
new milestone to increase the Group's ability to source solar-grade silicon at
favourable conditions allowing it to further expand its international business
profitably. The facility will be completed by the end of 2008 and will be put
into operation at the beginning of 2009.


In the first year the annual production is expected to reach 900 MT, thereafter
production is expected to increase to 1,800 MT. "If the market develops
according to expectations, we would be able to further increase the capacity",
said PV Crystalox Solar Board Member Hubert A. Aulich in the presence of Dr.
Reiner Haseloff, Minister for Economic Affairs and Employment of Saxony-Anhalt,
and numerous invited guests.


The facility will be built in the Chemical Park of Bitterfeld, Germany, the
region with one of the largest chemical production sites in Europe. PV Crystalox
Solar will employ a modified version of the well-established Siemens-process,
which was optimised for solar applications. With this process high-purity
silicon is produced that meets the specifications, the company requires for its
in-house multicrystalline wafer technology.


Evonik Degussa GmbH, Duesseldorf, a wholly owned subsidiary of Evonik Industries
will supply PV Crystalox Solar with the high purity raw material Siridion(R)
Chlorosilane in a fence to fence operation. Degussa is the largest chlorosilane
producer world-wide. The close partnership with Degussa will also result in an
optimized chemical infrastructure for distributing and handling chlorosilanes
and by-products. The company has signed a ten year contract with Degussa for the
delivery of chlorosilanes.


Expected investment for the 1,800 MT facility will be approximately 80 million
EURO. Financial support will be provided by the state of Sachsen-Anhalt, the
Federal Government and the European Union in the amount of approximately 21
million EURO. The plant is estimated to create approx. 100 new jobs and will be
one of the first industrial production sites in Europe dedicated exclusively to
silicon for solar electricity using a modified version of the Siemens-process.


Notes to Editors


PV Crystalox Solar, initially established in the UK in 1982, is a highly
specialised supplier to the world's leading solar cell manufacturers, producing
multicrystalline silicon ingots and wafers for use in solar electricity
generation systems. The Group was one of the first to develop multicrystalline
technology on an industrial scale, setting the industry standard for ingot
production.


The Group manufactures silicon ingots in Oxfordshire, United Kingdom, with the
majority of its output shipped to Japan, where it is sold either as ingots or as
wafers after processing by a sub-contractor. The balance of its output is
processed into wafers for European customers at the Group's facilities in 
Erfurt, Germany.


PV Crystalox Solar was admitted to the main market of the London Stock Exchange
on 11 June 2007. On 11 September 2007 the Group reported its half year results
for the period ending 30 June 2007. PV Crystalox Solar's production output over
the period was 89MWp. Total sales revenues increased by 8% and earnings before
exceptional items increased by 13.3% on the corresponding period in the previous
year.


For further information contact:


PV Crystalox Solar PLC                                  Tel: +44 (0)1235 770 044
Iain Dorrity, Chief Executive Officer
Peter Finnegan, Chief Financial Officer
Dr Hubert Aulich, Executive Director, German Operations Tel: +49 (0)361 600 8512


Gavin Anderson & Company                                Tel: +44 (0)20 7554 1400
Kate Hill
Robert Speed




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
MSCVVLFFDKBEBBV

Grafico Azioni Pv Crystalox Solar (LSE:PVCS)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni Pv Crystalox Solar (LSE:PVCS)
Storico
Da Lug 2023 a Lug 2024