REC Silicon will curtail operation of the FBR facility in Moses Lake beginning on May 15
Post date: 14/04/2019 - 18:58
Norwegian REC Silicon ASA published its annual report 2018 and confirms recently announced preliminary revenues of $221.2 million in 2018 compared to $272.4 million in 2017 (18.8 percent decrease). The corresponding EBITDA in 2018 was a loss of $4.9 million compared to profit of $19.8 million in 2017. Overall, the company announced loss of $341.6 million in the year 2018 compared to loss of $350.6 million in 2017. Polysilicon sales volume in 2018 was 7,784 MT compared to 13,503 MT in 2017 (42.2 percent decrease). Silicon gas sales volumes increased to 3,600 MT in 2018 from 3,501 MT in the previous year.
According to the company, its sales opportunities »are limited due to restricted access to polysilicon markets inside of China.« In February, the manufacturer announced that the Board of Directors had considered a 2-month curtailment of production at the fluidized bed reactors (FBR) in Moses Lake, USA. In mid-March, the company reported the decision not to shut down the FBR. REC Silicon has idled production capacity, reduced its workforce, and reduced spending levels to maintain liquidity. However, the company now announced to curtail operation of the FBR facility in Moses Lake beginning on May 15, 2019. »If access to markets for polysilicon in China is not restored, the FBR facility will be placed in a longer-term shutdown and will not be re-commissioned until access to markets in China is restored or market conditions improve. «
REC Silicon operates manufacturing facilities in Moses Lake, Washington and Butte, Montana in the USA. REC Silicon’s subsidiaries include: REC Silicon Inc., REC Solar Grade Silicon LLC, and REC Advanced Silicon Materials LLC in the United States. REC Silicon’s sales and marketing activities for sales of solar grade polysilicon, semiconductor grade silicon and silicon gases are carried out in China, Japan, Korea, Taiwan, Singapore, and in the United States. The Group’s investment in associates (Yulin JV) is held by REC Silicon Pte. Ltd. in Singapore.