The Norwegian company mothballed its Washington State facility more than a year ago and is now reliant on semiconductor-grade poly and silane gas produced at its fab in Butte, Montana – a facility for which the business says it has received plenty of interest from potential purchasers.
Finnish lender Nordea has called in a NOK150 million indemnity loan thought to have been taken out by REC Silicon ASA as a result of the bankruptcy of its Norwegian wafer manufacturing arm seven years ago.
The Norwegian polysilicon and silane gas producer has announced it will listen to offers for its production facility in Butte Montana after mothballing its other manufacturing operation – at Moses Lake, Washington – in the summer.
The Norwegian polysilicon supplier – which has most of its manufacturing operations on U.S. soil – cannot give any estimate on when its solar material production lines will return, and has been left entirely dependent on the semiconductor products made by its Montana facility.
The company has reported declining revenues and increasing losses in its first-quarter update. A plan to reduce polysilicon production will begin in a week’s time and if access to the Chinese market is not restored, a complete shutdown could be in place by the end of June.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.