REC Silicon ASA - Manufacturers of U.S.-Made Polysilicon Call..


REC Silicon ASA - Manufacturers of U.S.-Made Polysilicon Call for End to Chinese Tariffs During Meeting Today with U.S. House Manufacturing Caucus

Washington, DC, October 22, 2019: The three largest manufacturers of polysilicon in the United States stressed today that Chinese tariffs imposed on U.S.-made polysilicon over the past five years have put the industry at risk, making the U.S. effectively reliant on China for this critical material.

During a meeting with the U.S. House Manufacturing Caucus at the Cannon House Office Building, leaders from Hemlock Semiconductor Operations (HSC), REC Silicon and Wacker Chemie AG shared with members of Congress the effect the Chinese tariffs have had since they were imposed in 2014. U.S. polysilicon exports to China have dropped by nearly 90%, from $1 billion in 2011 to $107 million in 2018.

Polysilicon is a fundamental building block for the semiconductor and solar industries, used to make ingots and wafers for solar cells and the integrated circuits that power everything from smartphones to autonomous vehicles and electronics. The U.S. polysilicon industry represents over $10 billion in capital investment and employs thousands in high-skilled, high-wage jobs.

Preserving U.S. production capacity is vital for maintaining U.S. competitive advantages in critical defense, energy and innovation industries, said Phil Dembowski, Senior Vice President and Chief Commercial Officer of Michigan-based HSC. Through these tariffs, China is effectively trying to corner the world market on this important building block for the solar and electronics industries.

REC Silicon produces polysilicon at a plant in Butte, Mont., but was forced to shutter its $1.7 billion plant in Moses Lake, Wash., in July because China has effectively shut out U.S. imports. HSC was forced to close a nearly new polysilicon plant in Tennessee in 2014 after the Chinese tariffs took effect. A SunEdison polysilicon plant in Pasadena, Texas, closed in 2015 and was purchased by a Chinese company, allowing China access to SunEdisons patented technology.

We produce some of the lowest cost high-purity polysilicon in the world at our U.S. plants, but Chinas actions have forced us to halve our production and lay off around 600 workers, said Francine Sullivan, REC Silicons Vice President of Business Development. Allowing the Chinese to have these unfair tariffs while subsidizing its own polysilicon production is costing the U.S. high paying jobs and billions of dollars in investment.

Christian Westermeier, Vice President of Sales and Application Engineering for Germany-based Wacker Chemie AG, joined with WACKER POLYSILICON Vice President Mary Beth Hudson to add their voices to calls for change.

When WACKER invested $2.5 billion to build its polysilicon plant in Tennessee, it was our biggest investment we had ever made in the U.S. in our more than 100-year history, Westermeier said of the plant that opened in 2016. Hudson added, Unfortunately, even while the global solar and semiconductor markets are growing, Chinas determination to dominate this industry worldwide has left U.S. producers with an ever-smaller share of this important energy source.

The three industry leaders called for polysilicon to be included in ongoing U.S. trade talks with the Chinese, and for the federal solar tax credit to be extended. Theyd also like to see more programs and investment incentives to develop and strengthen critical links in the U.S. solar value and supply chains.

U.S. House Manufacturing Caucus Co-Chairmen Tom Reed, R-N.Y., and Tim Ryan, D-Ohio, said Tuesdays meeting was a chance for caucus members to learn more about manufacturers critical to maintaining the U.S. lead in defense, energy and innovation industries. Members of Congress and staff from Michigan, Tennessee, Montana and Washington state attended, as did others interested in polysilicon trade issues.

About Hemlock Semiconductor
Hemlock Semiconductor (hscpoly.com) is composed of several joint venture companies owned by DuPont, Corning Inc., and Shin-Etsu Handotai. Hemlock Semiconductor, located since 1961 in Hemlock, Mich., is a leading provider of polycrystalline silicon and other silicon-based products used in the manufacturing of semiconductor devices, solar cells, and modules. Its the only manufacturer of polysilicon headquartered in the United States.

About REC Silicon
REC Silicon ASA is a leading producer of advanced silicon materials, supplying high-purity polysilicon and silicon gases to the solar and electronics industries worldwide, with over 30 years' experience and best-in-class proprietary technology. RECs production facilities are comprised of two U.S.-based silicon materials plants in Moses Lake, Wash., and Butte, Mont. REC Silicons corporate headquarters is in Fornebu, Norway.

About Wacker Polysilicon
Wacker Polysilicon is a global leader in the production of hyperpure polysilicon, used in semiconductors and the growing solar energy market. The Germany-headquartered company began producing polysilicon in Charleston, Tenn., in 2016. It also has other chemical facilities in the United States.

For further information, please contact:
Francine Sullivan, Vice President Business Development
Phone: +1 509 750 1133
Email: francine.sullivan@recsilicon.com

Nils O. Kjerstad IR Contact
Phone: +47 9135 6659
Email: nils.kjerstad@crux.no

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

https://newsweb.oslobors.no/message/487561
Redigert 23.10.2019 kl 07:36 Du må logge inn for å svare
dor123
23.10.2019 kl 07:49 1653

Godt det skjer noe på høyt nivå!!

Som forventet. Det jobbes i kulissene og en løsning er rett rundt hjørnet 👍

Takk til MorganKane, som tipset os om dette kommende møtet allerede for noen dager siden... Nå er det store spørsmålet om lobbyvirksomheten gir frukter for poly i handelssamtalene mellom USA og Kina.
Sa2ri
23.10.2019 kl 08:01 1570

"The three industry leaders called for polysilicon to be included in ongoing U.S. trade talks with the Chinese, and for the federal solar tax credit to be extended."

Dette høres jo litt merkelig ut basert på at det er hevdet her inne flere ganger at poly allerede ER på listen. Er det slik at poly ikke har vært med og at man nå trykker på for å få dette med i forhandlingene?
Celsius
23.10.2019 kl 08:16 1504


Det er ennå ikke inngått noen fase 2 avtale. Bare muntlig fase 1 avtale med jordbruk og tekno og valuta.

Det er derfor ikke et eneste produkt som er innlemmet i en fremtidig fase 2 avtale.

Det KOMMER en fase 2 avtale hvor det nå, mer enn noensinne, er sannsynlig at POLYSIL vil inngå som tollfri vare INN I KINA, og muligens også slik at KINASUBSIDIERING AV EGEN POLYSIL STRUPES.

Dersom egensubsidiering innenfor Kina IKKE STRUPES, må REC storsatse på å oppnå 49 % av Youlin/Kina (ved salg av Butte).

Når Polysil måtte bli innlemmet i Kinaavtale, vil REC snarere stå i 30 kroner enn 3 kroner.
Redigert 23.10.2019 kl 08:25 Du må logge inn for å svare
Falco1
23.10.2019 kl 08:25 1456

REC:OPPLYST KONGRESSEN I USA OM EFFEKTER AV KINESISKE TARIFFER

07:44
Oslo (TDN Direkt): Under et møte med det amerikanske House of Manufacturing Caucus delte ledere fra Hemlock Semiconductor Operations (HSC), REC Silicon og Wacker Chemie AG med kongressen hvilken effekt kinesiske tariffer har hatt siden de ble innført i 2014.

Det fremkommer av en melding fra Rec Silicon onsdag.

Amerikanske eksport av polysilisium til Kina har falt med nær 90 prosent, fra en milliard dollar i 2011 til 107 millioner dollar i 2018, skriver Rec Silicon.

De tre selskapene ba om at polysilisium vil bli inkludert i de pågående handelssamtalene med USA, og om at kreditt på føderal skatt på solceller blir forlenget.
Trier
23.10.2019 kl 08:46 1358

Gitt at dette handler om energi (både produksjon og lagring) og energipolitikk er det vel en no-brainer at USA ikke kan tillate seg å bli avhengig av Kina eller andre land i framtiden. Enten må kineserne åpne opp, ellers kan de risikere at at det amerikanske markedet blir sperret for dem.

Safari,

Hva er dette for noe svada du kommer med? Begynner du å få panikk? Leighheizer, dvs forhandlingslederen, vitnet i senatet for en liten stund tilbake. Der sa han at polysil industrien var helt i toppen av prioritetslisten. Det er åpenbart at polysil fortsatt er med og vil bli inkludert hvis man kommer frem til en avtale (kanskje til og med fase 1). Det som imidlertid er av interesse er at plan b også ble diskutert. Altså, krav om at importerte waffere/paneler er produsert med amerikanskprodudert polysil.
dor123
23.10.2019 kl 10:31 1092

Dette var et stor gjeeps. Vekk meg når F fondet har solgt sine 8 millioner aksjer. Elendigheten er snart i minus
Odi.1
23.10.2019 kl 10:37 1051

inn med litt igjen på "33øre" Det var en som banket på her med "REC Lodd bok" til inntekt for GJUM gamleheim...
nemi's
23.10.2019 kl 10:56 993

Du er inkompetent, MK. Det var altså dagens annonserte tullprat den beviselig korrupte CEO'en i REC, Tore Tafatt, annonserte på Q2 at han kanskje kunne si mer om allerede... på Q3.

Ingenting nytt i dag! Dette har pågått i årevis.

"Sammen med Wacker og Hemlock.... "
https://finansavisen.no/nyheter/boers-finans/2017/05/rec-tror-handelskrigen-vil-stoppe

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Det pågår en solar-handelskrig. Kineserne fjerner ikke solar-tariffer på polysil før de dessuten får ditto opphevet i US ved import av kinesiskproduserte celler og moduler.

For øvrig kan dere drite i om REC får tilgang til å selge solar polysil uten tariffer i Kina. REC klarer ikke lenger å konkurrrere i Kina og ROW med semi-produksjonen sin, og der altså uten tariffer. Så klart vi de aldri kunne drive ML lønnsomt heller. REC taper nå penger på driften. Selskapet må selge assets for å klare sine betalingsforpliktelser, i følge CFO. De MÅ gjøre noe NÅ, sier CFO.

Dere har satset alt på en hest som er blind, døv, og halter !

Etter møtet med kongresspolitikerne uttalte de tre produsentene at de ønsker amerikansk satsing på de delene av verdikjeden som ikke finnes i USA i dag. Det ville vært svært godt nytt:

"The Tuesday meeting with the US House Manufacturing Caucus was attended by Members of Congress and staff from polysilicon plants in Michigan, Tennessee, Montana and Washington. In a statement issued after the meeting, HSC, REC and Wacker also said they would like to see more programmes and investment incentives aimed at developing and strengthening critical links in the US solar value and supply chains."

https://www.renewablesnow.com/news/polysilicon-makers-in-us-want-access-to-chinese-market-solar-tax-credit-extension-673562/