REC makes further adjustments

REC has decided to initiate a process with trade unions, with the intention to temporarily halt 50 percent of the capacity of the 300 MW monocrystalline wafer facility in Glomfjord, Norway throughout the first quarter of 2012.

REC’s decision comes as a strategy to reduce its exposure towards a continued weak spot market for wafers. This temporary shutdown is expected to affect approximately 65 employees at the plant.

End of November last year, REC decided to temporarily halt 60 percent of its production at the 650 MW multicrystalline wafer facility in Herøya, Norway. After these adjustments, REC expects to produce approximately 105 MW of multi- and monocrystalline wafers in Norway in the first quarter 2012.

It is business as usual at full capacity still at the wafer, cell and module facility in Singapore (700 MW annual wafer to module capacity) and the polysilicon facilities in the U.S. (19,000 MT annual polysilicon capacity).