05. 04. 2012 - 15:09:15
* Commissioning of Production Line 4 at plant Zhenjiang
* Drawdown of Loan by Bank of China in the amount of 130 mio. RMB
* Commissioning of Production Line 5 at Plant Baoding
* Shut down of Production Plant in Glomfjord in Norway
Hirschau, 5th April, 2012 - despite the general difficult market environment in the PV industry SiC Processing continuously follows its expansion plans in Asia. After commissioning the first 3 production lines in Zhenjiang in November and December 2011, in March 2012 the 4th production line has now started production as scheduled. In total, after completion of the 6 production lines in Zhenjiang, there will be 90,000 tons of annual capacity for the recycling of used sawing suspension available at that location by end of 2012.
For financing the production plant in Zhenjiang, Bank of China (BoC) paid out the second tranche of a loan to SiC Processing in the amount of 130 million RMB.
In Baoding production line 5 has been successfully commissioned in time. In total, after completion of the 6 production lines in Baoding, there will be 90,000 tons of annual capacity by second quarter 2012.
Responding to the prevailing difficult market environment for PV industry, SiC Processing takes next steps at its production plant in Glomfjord in Norway and takes existing production capacities out of service. The permanent shut down of parts of production facilities for wafers at the main customer of SiC Processing in Norway leads to lower volumes of sawing suspension (slurry) to be processed and recycled. As a result the operation of the production facilities in Glomfjord/Norway is no longer economic. Thus 3 production lines with an annual capacity of 34,000 tons are affected and closed down.
The management of the SiC Processing Group regrets these measures very much, but does not see any alternative to further economically operate the plant.
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SiC Processing GmbH
SiC Processing GmbH is the leading provider for the recovery of used slurry from the photovoltaic and the semiconductor industry. With about 900 employees worldwide the group is located with an annual production capacity of currently 240,000 tons per year in 5 countries all over the world. Production sites are located in Germany, China, Norway, Italy and USA. The founder family holds a 25% stake beside the majority shareholder Nordic Capital Fund VII.
Head of Marketing and Communications
Phone: 0049 (0) 9622 - 70 39 273