statement19 Aug 2010 08:25
PV Crystalox delivered a strong first half against a backdrop of improving demand and lower prices. We continued to make good operational progress, increasing our polysilicon production at Bitterfeld and expanding our ingot production capacity, which is set to reach 500MW by Q1 2011. Our cost reduction programme, targeted at lowering wafer production costs, is progressing to plan.
"Looking ahead to the second half of the year, demand is expected to remain strong despite the cuts in feed in tariffs in Germany and other European countries. Through our cost reduction efforts we aim to improve operational performance in the second half thereby underpinning our expectations for the full year. The Group's strong customer relationships, continuing production cost efficiencies and strong balance sheet give the Board confidence that the Group will compete effectively."