ARISE Technologies in talks to sell silicon assets due to going concern issues

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Struggling ARISE Technologies has said it is in talks with an unidentified ‘Fortune 500’ company to sell its 7N+ high-purity silicon technology assets. A period of due diligence under an exclusive arrangement has been entered into by both parties.  ARISE operates under three divisions, which include a c-Si cell plant in Germany, a PV Systems Division in Ontario, Canada as well as the polysilicon arm, up for sale.

As the price for polysilicon has fallen from US$450/kg in June 2008 to approximately US$70/kg today, it is becoming more difficult for small players to make adequate margins without the scale and significant financial backing to remain competitive.

The company has incurred losses and negative cash flow in the last nine months largely due to an operating loss driven by a valuation write-down of inventory due to the decline in the pricing of PV cells and silicon.

ARISE warned in mid-November that there was uncertainty about the ability to continue as a going concern. The company has previously stated that its PV systems business unit was its key focus for future expansions.

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