LONDON (Alliance News) - PV Crystalox Solar PLC Tuesday said it is continuing to operate in cash conservation mode due to challenging market conditions.
The company, which manufactures key components in solar power systems, said that despite strong market demand with an expected 20% growth forecast for global PV installations in 2013, continuing overcapacity across the value chain is keeping prices below industry production costs.
Therefore, PV Crystalox is maintaining production at low levels while focusing on internal cost reduction, quality improvement programmes and inventory management.
The company said trading of excess polysilicon is in line with expectations and full-year wafer shipments are anticipated to be at the upper end of its 160-180 megawatt range.
PV Crystalox Solar shares were up 4.8% to 14.15 pence Tuesday.
By Tom McIvor; tommcivor@alliancenews.com;
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