(PVCS.L) PV Crystalox Solar PLC Buy/Sell

RNS Number : 8140C PV Crystalox Solar PLC 20 November 2009

20 November 2009

PV Crystalox Solar plc

Appointment of non-executive director

Michael Parker has been appointed as Non-Executive Director of PV Crystalox Solar plc with effect from 1 January 2010. Michael is currently the Senior Independent Director at Invensys plc. He was previously President and Chief Executive Officer of the Dow Chemical Company and latterly Chief Executive at British Nuclear Fuels plc.

Commenting on the appointment, Maarten Henderson, Chairman of PV Crystalox Solar, said:

"At the AGM I announced that the Company would look to appoint an additional Non- Executive Director and I am delighted to welcome Michael to PV Crystalox Solar. Given his extensive experience both as a Chief Executive and as a Non-Executive Director, I am sure he will make a significant contribution to the Board and Company."

Note to Editor

The Company confirms that there are no further details to be disclosed in respect of the requirements of paragraph 9.6.13 of the Financial Services Authority's Listing Rules.

Enquiries:

PV Crystalox Solar plc +44 (0) 1235 437160

Matthew Wethey, Company Secretary

Financial Dynamics +44 (0) 20 7831 3113

Juliet Clarke / Giles Sanderson / Haya Herbert-Burns

This information is provided by RNS The company news service from the London Stock Exchange

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LONDON, Nov 19 (Reuters) - British silicon wafer manufacturer PV Crystalox Solar said prices for the wafers used in solar cells continue to fall but that demand is improving, driven by incentives in Germany and Japan.
The firm, which supplies solar cell makers such as Suntech Power and Sharp, said it therefore expects to meet market expectations for the full year as it increased its wafer shipment forecast for the year to 230-235 Megawatts.
At the time of its first-half results it predicted shipments of 210-230MW.
The solar industry has struggled this year as an influx of panels pushed down prices, while the global downturn cut demand for subsidy-dependent solar installations.

"The photovoltaic market is benefiting from improving demand, but industry overcapacity continues and pricing remains under pressure," PV Crystalox said in a statement on Thursday.
Its shares, which have fallen 35 percent this year, were up 2 percent at 65 pence by 0804 GMT.
(Reporting by Victoria Bryan; Editing by Rhys Jones) Keywords: PVCRYSTALOX/

(victoria.bryan@thomsonreuters.com; +44 207 542 9688; Reuters Messaging: victoria.bryan.thomsonreuters@reuters.net)

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RNS Number : 7255C
  PV Crystalox Solar PLC
  19 November 2009
   

    

19 November 2009

PV Crystalox Solar plc

INTERIM MANAGEMENT STATEMENT

PV Crystalox Solar plc (or "the Group") announces its Interim Management Statement, in accordance with the UK Listing Authority's Disclosure and Transparency Rules, for the period from 1 July 2009 to the date of this announcement. The Group announced its interim results for the six months ending 30 June 2009 on 19 August 2009. 
 

The photovoltaic ("PV") market is benefiting from improving demand driven by incentive programmes in Japan and in particular in Germany, but industry overcapacity continues and pricing remains under pressure. Against this market background (i) our wafer shipments in the second half of the year are expected to be significantly above those we achieved in the first half (100MW), with total wafer shipment volume for 2009 now anticipated to be in the region of 230-235MW, slightly above the upper end of the range indicated at the time of our interim results and (ii) our wafer pricing is declining but the average price during the second half of the year will be in the middle of the range anticipated at the time of our half-year results. Accordingly, our full year performance continues to be in line with management expectations. 

Output continues to rise at our polysilicon production facility in Bitterfeld, Germany. Product quality targets have been achieved as independently verified by two of our major customers who have processed solar cells from wafers manufactured using our own polysilicon. 

Our longstanding relationships with major PV companies, strong balance sheet and continuing focus on cost reduction and operating efficiency gives the Group resilience to compete effectively in the current uncertain market environment. Accordingly, we are well placed to benefit from any sustained upturn in the PV market.

Enquiries:

 PV Crystalox Solar PLC                                +44 (0) 1235 437160
 Dr Iain Dorrity, CEO
 Dr Peter Finnegan, CFO

 Financial Dynamics                                    +44 (0) 20 7831 3113
 Juliet Clarke / Giles Sanderson / Haya Herbert-Burns

About PV Crystalox Solar PLC

PV Crystalox Solar PLC, initially established in 1982, is a highly specialised supplier to the world's leading solar cell manufacturers, producing multicrystalline silicon wafers for use in solar electricity generation systems.  The Group was one of the first to develop multicrystalline silicon technology on an industrial scale, setting the industry standard for ingot production.

The Group manufactures silicon ingots in Oxfordshire, United Kingdom, and carries out wafer production for European customers at its facilities in Erfurt, Germany.  Wafers for customers in Asia are produced in Japan.  The Group's own polysilicon plant commenced production in Bitterfeld, Germany in July this year.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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