Brief: REC Silicon Shuts Down Moses Lake Operations

Rec Silicon ASA

02/01/2025 08:27

Jan 2 (Reuters) - REC Silicon ASA  RECSI.OL :
    * SAID ON MONDAY IT CEASED PRODUCTION AT ITS MOSES LAKE,
WASHINGTON FACILITY
    * SAID WILL FOCUS ITS BUSINESS EFFORTS ON SILICON GASES 
    * CUSTOMER IS NOT ABLE TO WAIT ANY LONGER FOR DELIVERY OF
PRODUCT
THAT CONSISTENTLY MEETS REQUIREMENTS AT CORRECT LEVELS 
    * THERE ARE CURRENTLY NO OTHER CUSTOMERS IN US AND LIMITED
CUSTOMERS OUTSIDE OF CHINA
    * COMPANY AND CUSTOMER ARE IN ADVANCED DISCUSSIONS REGARDING
CANCELLATION OF CONTRACT, INCLUDING ELIMINATION OF PENALTIES AND
DEFERRAL OF REPAYMENT OF INITIAL PRE-PAYMENT
    * IS IN ADVANCED DISCUSSIONS WITH ITS LARGEST SHAREHOLDER
REGARDING POTENTIAL SHORT-TERM LOAN
    * WORKFORCE IN MOSES LAKE, ALONG WITH SOME OTHER EMPLOYEES
WHO
SUPPORT MOSES LAKE BUSINESS LINE, WILL BE REDUCED ACCORDINGLY

        
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