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IDEA Polysilicon Company has selected centrotherm SiTec to provide basic engineering and the technology concepts for its first 10,000MT capacity polysilicon plant to be built in the city of Yanbu, Saudi Arabia. Actual construction timelines were not disclosed.
Struggling to complete and start polysilicon production at its first facility in Pocatello, Idaho, Hoku has received another financial life-line with major investor, Tianwei New Energy agreeing to extend loan payment terms of US$50 million to potentially to the first quarter of 2014. Two loans, totalling US$50 million were due to be repaid to Tianwei this quarter as polysilicon production would have already been started but delays, often financial-based have dogged the project from the start.
Major PV equipment supplier, Meyer Burger posted preliminary results inline with guidance. The company posted revenue of CHF 1.3 billion, up approximately 45% for the prior year. Though the consolidation of Roth & Rau had only a small impact at the EBITDA level the losses at Roth & Rau in 2011 could negatively impact at the EBIT level, by as much as 10%.
PV module encapsulant material supplier, STR Holdings warned late last week that sales would not meet previously guided levels. The company had previously guided sales to be in the range of US$44-US$48 million. However STR has revised guidance to approximately US$36.5 million, well below that level.
PPG Industries advised that its flat glass business in Fresno will be expanding its production capability in order to better allow the manufacturing of the company’s Solarphire PV glass. The move aims to serve solar customers throughout California, the West Coast and even Asia with a faster shipping timeframe.
Dow Corning’s JV polysilicon subsidiary, Hemlock Semiconductor was impacted by overcapacity in 2011. Like major competitor, Wacker sales were lower and demand weakened. Overall, Dow Corning recorded record sales of US$6.43 billion in 2011 while adjusted net income decreased 15% compared to 2010. The company does not breakout polysilicon sales.
Continued overcapacity and weak demand in the wafering sector has forced Bekaert to reduce wire saw manufacturing capacity with the loss of 1,250 jobs. Restructuring started in December 2011, which included reducing production in China.
Citing ‘structural’ overcapacity, ‘significant price declines’ and a fall in demand of crystalline silicon wafers, Sumco has decided to completely exit the market. The company expects to incur charges of ¥5 billion, folding both wafer subsidiaries, Sumco Solar Corporation and Minimata Denshi, and noted that it would report a significant operating loss in its fiscal fourth quarter results. Sumco said that wafer prices had declined by 70% from January 2011.
As part of REC Group’s previously announced closure of certain wafer and cell production plants in Norway, a sale of the equipment from three plants is to be organized by surplus asset management firm, GoIndustry Dovebid. All equipment and components were said to available for sale by private negotiation.
Third quarter revenue at GT Advanced Technologies (GTAT) was inline with guidance at US$153.0 million, compared to US$217.7 million in the second quarter of fiscal 2011 and US$262.9 million in the third quarter of fiscal 2011. Polysilicon equipment segment continued to be the key earner, generating revenue of US$87.4 million. Recent new orders in this segment pushed its order backlog to US$2.2 billion. GTAT had a book to bill ratio of 1.3.
