REC receives NOK220 million for terminating long term wafer sales contract

Reference is made to the third quarter 2011 report, where REC is expecting to continue to recognize income from termination of long term wafer sales contracts.

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In the period 2006 – 2008, REC entered into a number of long term wafer sales contracts. REC has now accepted to terminate one of these contracts and will receive a cash compensation of approximately NOK 220 million in the first quarter 2012.

http://www.recgroup.com/