The Munich company hopes the PV market will pick up in the second half, driven by demand in China. Wacker Chemie also expects rising prices for polysilicon.
The German poly manufacturer expects to increase sales in the current financial year, however EBITDA is expected to be down as much as 20% as average prices for polysilicon will continue to decline.
The Munich-based chemical group believes that the Chinese Ministry of Commerce may make a decision at the end of October. Wacker’s U.S. plant is still in the start-up phase following a temporary shutdown due to an explosion.
Wacker Chemie AG has said it is gradually ramping up production at its beleaguered U.S. polysilicon production site, with product expected to be again available in Q2. The shutdown has affected its Q1 earnings, with sales down 18% compared to a year ago.
Tennessee’s relevant safety authorities have submitted their report on the hydrogen explosion at the polysilicon plant of the German manufacturer in Charleston. They demand US$25,400 in fines from Wacker Chemie for violations of various regulations. The manufacturer continues its efforts to resume production.
Following an explosion at a U.S. production facility in 2017, the German polysilicon producer is under investigation by local authorities. Wacker Chemie must now pay a fine of US$20,000 for failing to comply with certain regulations regarding the provision of personal protective equipment and employee safety during maintenance work prior to the accident.
German-headquartered polysilicon producer attains 2017 sales and earnings target, posting €4.92 billion in sales and net income of €885 million.
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