Timminco to curtail silicon metal production, reduce workforce

Facebook
Twitter
LinkedIn
Reddit
Email

Timminco said that it will temporarily curtail production of silicon metal because of difficult market conditions and reduced demand for silicon metal in the chemical and aluminum industries.

The upgraded metallurgical silicon (UMG) manufacturer added that this revamped operating mode will be implemented at the start of the 2Q, with the hope of preserving cash flow and decreasing working capital levels. The reduction in silicon metal production will result in a temporary workforce reduction, according to the company. During this period, it will supply silicon metal to customers from existing finished goods inventory.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Timminco will continue to produce solar-grade silicon, although at levels in line with customer orders. Solar-grade silicon customers have recently decreased their orders significantly because of the current market downturn. The company said it will also defer further capacity expansion of its solar-grade silicon plant, pending recovery of demand for the material.

No other specifics on the extent of the slowdown, including the number of employees to be laid off or the amount of customer order pushouts or cancellations, were divulged by the company.

Heinz Schimmelbusch, chairman/CEO, stated that “the impact of global economic and credit conditions have prompted us to take decisive action to reduce costs and preserve capital until the silicon metal and solar-grade silicon markets improve.”

Timminco also released its fourth-quarter and fiscal 2008 year-end results. The company’s silicon group saw sales of $58.5 million for the fourth quarter, an increase of 140% from 2007, which accounted for 80% of total sales. Annual sales were $189.5 million, an increase of 83% from 2007, which accounted for 75% of total sales.

The group shipped 424 metric tons of solar-grade silicon in the 4Q, an increase of 41% from the 3Q08, generating revenue of US$27.7 million. For the year, the group shipped 1045 metric tons of solar-grade silicon, resulting in revenue of US$64.6 million.

Fourth-quarter net income increased to US$7.5 million from a net loss of US$3.1 million for the same period in 2007, and net income for the 2008 increased to US$19.9 million from a net loss of US$1.6 million for 2007, according to the company.

Read Next

June 6, 2025
Independent power producer (IPP) NOA Group has reached financial close on a 349MW solar PV project in South Africa.
June 6, 2025
France has registered zero or negative energy prices for 90% of days in May 2025, according to data from energy storage developer Storio Energy.
June 6, 2025
rPlus Energies has secured more than US$500 million for an 800MW solar-plus-storage project in Emery County, Utah, US.  
June 6, 2025
Eternal Sun has acquired German solar simulator provider Wavelabs, which has resulted in the formation of a new subsidy, Wavelabs Eternal Sun.
Premium
June 6, 2025
Europe must secure the 'strategic segments' of the solar supply chain, according to experts at a PV Tech panel at this year's Intersolar event.
June 6, 2025
Australia’s Solar Energy Industries Association (SEIA) has called on Australia’s climate change and energy minister, Chris Bowen, to “urgently intervene” on a rule change that could threaten to derail the uptake of rooftop solar PV.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece