Fornebu, Norway: With reference to the news release on February 12, 2019, following a decision by REC Silicon ASA’s (REC Silicon) Board of Directors, REC Silicon will continue to operate its FBR facility in Moses Lake, Washington at approximately 25 percent of the facility’s capacity until further notice. The Board’s decision is subject to gaining further clarity on whether trade negotiations between the Governments of the United States and China are likely to result in REC regaining access to the China market for solar grade polysilicon and the overall outlook for the polysilicon market.
REC Silicon is grateful to and thanks the Government of the United States (USG), specifically President Trump and U.S. Trade Representative Ambassador Lighthizer and his team, for prioritizing the interests of high technology, innovative manufacturers like the U.S. polysilicon industry and its highly skilled workers in its on-going trade discussions with China. REC Silicon urges the USG to continue to insist on an immediate termination of China’s long-standing trade embargo on U.S. polysilicon exports as soon as possible as a necessary element of any agreement between the USG and China.
There is no change to previous guidance issued by REC Silicon.
About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine over 30 years of experience and proprietary technology with the needs of our customers, with annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (ticker: REC), the Company is headquartered in Fornebu, Norway.
For more information, go to: www.recsilicon.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.