EANS-News: WACKER Builds New Polysilicon Production Facility in the USA
- Integrated production site with an annual capacity of 15,000 metric tons in the U.S. State of Tennessee - Some 650 new jobs expected from 1.1 billion investment - Completion scheduled for end of 2013 - CEO Rudolf Staudigl: This large-scale investment is instrumental in strengthening our position as one of the worlds leading suppliers of hyperpure polysilicon for the solar industry
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Subtitle: - Integrated production site with an annual capacity of 15,000 metric tons in the U.S. State of Tennessee - Some 650 new jobs expected from 1.1 billion investment - Completion scheduled for end of 2013 - CEO Rudolf Staudigl: This large-scale investment is instrumental in strengthening our position as one of the worlds leading suppliers of hyperpure polysilicon for the solar industry
Munich / Cleveland (TN, USA) (euro adhoc) - December 9, 2010 - Wacker Chemie AG will build a new and fully integrated polysilicon production site near the city of Cleveland, Tennessee (USA). The Munich-based chemical company announced the decision today. With an annual capacity of 15,000 metric tons, the production complex will be built on a property acquired by WACKER early last year. In Cleveland, WACKER will build facilities that are based on closed-loop material recycling for the entire polysilicon-production supply chain. This spans from the production of trichlorosilane feedstock and deposition of hyperpure silicon through to facilities to recycle resultant by-products and auxiliary materials. The new site´s completion is expected at the end of 2013. The Group has budgeted investments of some EUR1.1 billion for this expansion of its production capacities. As a result, around 650 new jobs are expected to be created in Cleveland.
This investment decision will enable WACKER to meet the accelerating global demand it expects for hyperpure polycrystalline silicon. For coming years, WACKER anticipates continued double-digit annual growth in polysilicon demand by the solar industry. The company likewise expects higher polysilicon demand from the electronics sector.
"This large-scale investment is instrumental in strengthening our position as one of the world´s leading suppliers of hyperpure polysilicon for the solar industry;" said Rudolf Staudigl, CEO of Wacker Chemie AG. "We are convinced that our customers´ demand for top-quality polysilicon will continue to increase in coming years, as our material enables them to manufacture solar cells with high energy yields. Moreover, these additional production capacities outside the eurozone help to make us more independent of exchange-rate fluctuations."
Good infrastructure conditions and competitively priced power were key aspects in selecting this site. Over-the-fence supply of chlorine and excellent transportation infrastructure made Cleveland an attractive location. Plus, WACKER receives outstanding support in Tennessee from local authorities and business partners. The incentive package associated with site construction includes provision of the necessary transportation links, as well as reliable water and electricity supplies - both vital for producing hyperpure polycrystalline silicon. In addition, Tennessee´s electricity prices are much lower than at comparable German sites.
With a production output of some 30,000 metric tons in 2010, WACKER is the world´s second-largest producer of hyperpure polycrystalline silicon. WACKER´s polysilicon production currently under construction in Nünchritz (Germany) and the new capacities at its Tennessee site are reinforcing the Group´s position as a leading manufacturer of high-quality semiconductor and solar silicon.
This press release contains forward-looking statements based on assumptions and estimates of WACKER´s Executive Board. Although we assume the expectations in these forwardlooking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forwardlooking statements. Factors that may cause such discrepancies include, among other things, changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER does not plan to update the forwardlooking statements, nor does it assume the obligation to do so.
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Further inquiry note:
Christof Bachmair
Media Relations & Information
Tel.: +49 (0)89 6279 1830
E-Mail: christof.bachmair@wacker.com
Branche: Chemicals
ISIN: DE000WCH8881
WKN: WCH888
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
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Börsen: Frankfurt / regulated dealing/prime standard
Original content of: Wacker Chemie AG, transmitted by news aktuell