PVCS Pv Crystalox Solar Plc

 

TIDMPVCS 
 
RNS Number : 7255C 
PV Crystalox Solar PLC 
19 November 2009 
 

 
 
19 November 2009 
 
 
PV Crystalox Solar plc 
 
 
INTERIM MANAGEMENT STATEMENT 
 
 
 
PV Crystalox Solar plc (or "the Group") announces its Interim Management 
Statement, in accordance with the UK Listing Authority's Disclosure and 
Transparency Rules, for the period from 1 July 2009 to the date of this 
announcement. The Group announced its interim results for the six months ending 
30 June 2009 on 19 August 2009. 
 
The photovoltaic ("PV") market is benefiting from improving demand driven by 
incentive programmes in Japan and in particular in Germany, but industry 
overcapacity continues and pricing remains under pressure. Against this market 
background (i) our wafer shipments in the second half of the year are expected 
to be significantly above those we achieved in the first half (100MW), with 
total wafer shipment volume for 2009 now anticipated to be in the region of 
230-235MW, slightly above the upper end of the range indicated at the time of 
our interim results and (ii) our wafer pricing is declining but the average 
price during the second half of the year will be in the middle of the range 
anticipated at the time of our half-year results. Accordingly, our full year 
performance continues to be in line with management expectations. 
 
Output 
continues to rise at our polysilicon production facility in Bitterfeld, Germany. 
Product quality targets have been achieved as independently verified by two of 
our major customers who have processed solar cells from wafers manufactured 
using our own polysilicon. 
 
Our longstanding relationships with major PV 
companies, strong balance sheet and continuing focus on cost reduction and 
operating efficiency gives the Group resilience to compete effectively in the 
current uncertain market environment. Accordingly, we are well placed to benefit 
from any sustained upturn in the PV market. 
 
 
Enquiries: 
 
 
+--------------------------------------------------------------+---------------------------+ 
|                                                              |                           | 
+--------------------------------------------------------------+---------------------------+ 
| PV Crystalox Solar PLC                                       | +44 (0) 1235 437160       | 
+--------------------------------------------------------------+---------------------------+ 
| Dr Iain Dorrity, CEO                                         |                           | 
+--------------------------------------------------------------+---------------------------+ 
| Dr Peter Finnegan, CFO                                       |                           | 
+--------------------------------------------------------------+---------------------------+ 
|                                                              |                           | 
+--------------------------------------------------------------+---------------------------+ 
| Financial Dynamics                                           | +44 (0) 20 7831 3113      | 
+--------------------------------------------------------------+---------------------------+ 
| Juliet Clarke / Giles Sanderson / Haya Herbert-Burns         |                           | 
+--------------------------------------------------------------+---------------------------+ 
 
 
 
 
About PV Crystalox Solar PLC 
 
 
PV Crystalox Solar PLC, initially established in 1982, is a highly specialised 
supplier to the world's leading solar cell manufacturers, producing 
multicrystalline silicon wafers for use in solar electricity generation systems. 
 The Group was one of the first to develop multicrystalline silicon technology 
on an industrial scale, setting the industry standard for ingot production. 
 
 
The Group manufactures silicon ingots in Oxfordshire, United Kingdom, and 
carries out wafer production for European customers at its facilities in Erfurt, 
Germany.  Wafers for customers in Asia are produced in Japan.  The Group's own 
polysilicon plant commenced production in Bitterfeld, Germany in July this year. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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