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After releasing its third quarter results this week, Wacker Chemie confirmed that due to major sales and earnings declines in its polysilicon unit, it will delay operation at its Tennessee polysilicon production facility by 18 moths.
A combination of high inventories, price pressures and government subsidy cuts, lent to the company’s decision to stall production of the €1.1 billion (US$1.4 billion), 15,000-MT plant. Wacker expects the facility to come online in mid-2015, as opposed to its initial target date for the end of 2013.
Wacker made a point to express its confidence in the outlook of the polysilicon industry, noting that as polysilicon inventories fall, the demand for the material, should eventually lead to a turn-around in the market.