Brief: REC Silicon Receives Result Of Unsuccessful Qualification Test

Rec Silicon ASA

18/12/2024 08:45

Dec 18 (Reuters) - REC Silicon  RECSI.OL :
    * SAID ON TUESDAY AS A RESULT OF UNSUCCESSFUL QUALIFICATION
TEST,
REC SILICON IS REVIEWING MULTIPLE STRATEGIC OPTIONS
    * THIS MAY INCLUDE ADDITIONAL OPERATIONAL ADJUSTMENTS,
CONTRACTUAL
RE-NEGOTIATIONS, AND OTHER MITIGATIVE ACTIONS
    * HAS NOW RECEIVED RESULTS FROM QUALIFICATION TEST FOR ITS
ULTRA-HIGH PURITY POLYSILICON FROM THE RECENTLY RESTARTED
SILANE-BASED HIGH-PURITY GRANULAR PRODUCTION FACILITY IN MOSES
LAKE, WASHINGTON
    * DUE TO THE IMPURITY ISSUES IN THE QUALIFICATION MATERIAL
SENT,
THE CUSTOMER DEEMED THE TEST TO BE UNSUCCESSFUL
    * COMPANY IS IN DISCUSSIONS WITH ITS CUSTOMER TO DETERMINE
THE
FEASIBILITY OF ANOTHER TEST, CONTINGENT UPON COMPANY MAKING
IMPROVEMENTS IN MANUFACTURING PROCESS AT MOSES LAKE 
    * TIMING AND LIKELIHOOD OF ACHIEVING THE NECESSARY
IMPROVEMENTS IS
UNCERTAIN AT THIS POINT IN TIME
    * CONTINUES TO WORK ON ADDITIONAL FINANCING TO ENSURE THE
COMPANY’S FINANCIAL FLEXIBILITY

        
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