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 27, 2025
Indian solar manufacturer Premier Energies has commissioned its 1.2GW TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana.
June 27, 2025
The UK government has decided it will not sign a Contract for Difference (CfD) with Xlinks for the 11.5GW Morroco-UK interconnector project.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.
June 27, 2025
Statkraft has signed PPAs with Better Energy to purchase energy from two solar power plants in Poland with a total capacity of 64GWh.
June 27, 2025
Solar developer Lightsource bp has signed a power purchase agreement (PPA) with a subsidiary of Taiwanese energy firm HD Renewable Energy (HDRE).
June 27, 2025
PV Tech spoke to Monika Paplaczyk about recent changes in the UK energy mix and opportunities for investors in the solar sector.

Subscribe to Newsletter

Upcoming Events

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
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico