PVCS.L Regulatory News (PVCS)

3 Mar 2008 07:00

PV Crystalox Solar PLC03 March 2008 PRESS RELEASE 3rd March 08 PV Crystalox Solar Plc - Supplier Agreement PV Crystalox Solar is pleased to announce that agreement has been reached withone of its current longstanding polysilicon suppliers to maintain annualdelivery volumes and extend contracted supply through to 2014. The total quantity of polysilicon to be supplied over the additional five yearperiod is sufficient for wafer production equivalent to 450MW. This agreementhelps secure the group's position as one of the lowest cost wafer producers inthe PV industry. Commenting on the agreement, Iain Dorrity, Chief Executive said: "At the time of our IPO we were keen to emphasize our established position inthe PV industry and the high-quality nature of both our supplier and customerrelationships. Today's announcement is further evidence of our leading positionin the industry and the polysilicon we have secured will assist us in ourlong-term growth ambitions and in our drive to be one of the lowest-costproducers in our industry." For further information contact: PV Crystalox Solar PLC Tel: +44 (0)1235 437 161Iain Dorrity, Chief Executive OfficerPeter Finnegan, Chief Financial Officer Gavin Anderson & Company Tel: +44 (0)20 7554 1400Kate HillRobert Speed Notes to Editors PV Crystalox Solar, initially established in the UK in 1982, is a highlyspecialised supplier to the world's leading solar cell manufacturers, producingmulticrystalline silicon ingots and wafers for use in solar electricitygeneration systems. The Group was one of the first to develop multicrystallinetechnology on an industrial scale, setting the industry standard for ingotproduction. The Group manufactures silicon ingots in Oxfordshire, United Kingdom, with themajority of its output shipped to Japan, where it is sold either as ingots or aswafers after processing by a sub-contractor. The balance of its output isprocessed into wafers for European customers at the Group's facilities in Erfurt, Germany. PV Crystalox Solar was admitted to the main market of the London Stock Exchangeon 11 June 2007. On 11 September 2007 the Group reported its half year resultsfor the period ending 30 June 2007. PV Crystalox Solar's production output overthe period was 89MWp. Total sales revenues increased by 8% and earnings beforeexceptional items increased by 13.3% on the corresponding period in the previousyear. This information is provided by RNS The company news service from the London Stock Exchange