Timminco has sold 80 metric tons of solar-grade silicon to AMG Conversion, a wholly owned subsidiary of AMG Advanced Metallurgical Group. The sale is estimated to be worth around US$3.1 million.
The deal was accommodated by considering the price of the solar grade that has been negotiated for similar material with third parties. This was reviewed by the designated independent representatives of the boards of directors of each of Timminco and AMG.
Timminco will continue to focus on producing solar grade silicon while AMG will use the solar-grade silicon and furnace technology supplied by AMG’s Engineering Systems division to produce solar grade ingots and bricks for the solar wafer market.
AMG also owns a 47.9% equity interest in Timminco.