REC notifies of another long term wafer deal cancelled

January 31, 2012
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Continuing with the impact of overcapacity and falling prices, REC has said that another long-term wafer sales contract signed in the 2006-2008 period had been terminated. REC said that it would receive a cash compensation of approximately US$34.2 million (NOK 220 million) in relation to the cancellation. REC did not disclose the customer involved.

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