AGM Statement

4 Feb 2009 07:00



4th February 2009

Pure Wafer plc

("Pure Wafer" or the "Company")

Swansea based Pure Wafer plc, the provider of high quality silicon wafer reclaim services for many of the world's leading semiconductor manufacturers, is holding its AGM at 10 a.m. this morning, at which Eurfyl ap Gwylim, Chairman, will make the following statement:

"The outlook for the semiconductor industry remains difficult as the global economy continues to face turbulence and uncertainties. The downturn in the industry is proving to be one of the most challenging ever experienced and is resulting in difficulties at all levels throughout the industry, including most of our major blue chip customers posting losses and in some instances seeking governmental assistance.

"Forecasting remains extremely difficult with industry analysts uncertain when the upturn will be seen. Pure Wafer continues to make operational changes to reflect the situation in the market, with continued progress being made to reduce costs and increase efficiencies to reflect current demand and selling prices. These actions, together with the capacity in both the UK and US, will stand the company in good stead to take advantage of an industry recovery going forward. 

"Trading during the first six months of the current financial year has been encouraging to date, although the outlook remains difficult to predict. As previously announced the current management forecasts for the remainder of the year indicate that the Company needs to reschedule capital repayments of debt. Discussions with our banks are progressing well and we hope to be able to announce a positive outcome of these discussions very soon."

Pure Wafer plc