Wacker Chemie AG exits
from the solar wafer business and will transfer its shares in its joint venture
WACKER SCHOTT Solar GmbH (WSS) to its former partner SCHOTT Solar AG. WACKER
and SCHOTT Solar have reached agreement on the key points of a sales transaction
today. The reason for this move is WACKER's decision to focus its solar
activities from now on exclusively on its core competency which is the production
of hyperpure polycrystalline silicon. SCHOTT Solar, on the other hand, concentrates
on the downstream side of the photovoltaic value chain, the manufacturing of
solar cells and modules. Already in the past, SCHOTT Solar has absorbed the
major part of WSS's wafer production.
In the context of this transaction, WACKER will perform its respective duties
as a shareholder and will support WSS with a variety of measures. All in all,
Wacker Chemie AG is expecting from its share in WSS a non-recurring negative
impact on pre-tax profit of about €50 million as well as an increase in
financial debt of some €65 million. The corresponding financial precautions
will be appropriately recorded in the company's financial statements for
Q3 2009.
“Focusing on hyperpure polysilicon production provides an excellent
base for our long-term competitiveness and profitability”, says WACKER
Group's CEO Rudolf Staudigl. “In this field, we can play out our
technology leadership and our strong market position with maximum impact.”
WACKER is currently the world's second largest supplier of polysilicon
for the solar and semiconductor industries and has under way an extensive investment
program for the expansion of its production capacities.
Posted October 1st, 2009
