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SiC Processing reacts on Market Development

Dec 09, 2011

Short-time work at Production plant in Bautzen
Significant Part of Production Capacity at Production Plant in Norway currently decommissioned
Commissioning of first Production Line at new Production Plant in Zhenjiang/China

Responding to recent developments in the PV industry worldwide, especially in Europe, as well as to the prevailing difficult market environment, SiC Processing initiated programs at two of their international locations.

SiC Processing (Deutschland) GmbH announced short-time work at their location in Bautzen, Germany. By this action approximately 100 employees are affected. Reduction of production capacities at European wafer manufacturers and for this reason lower slurry volumes prompted SiC Processing to initiate this measure.

At their sites Heroya and Glomfjord (Norway) SiC Processing AS has taken a significant part of their existing production capacities out of service. The permanent shut down of parts of production facilities for multicrystalline wafers at the main customer of SiC Processing in Norway leads to lower volumes of sawing suspension (slurry) to be processed and recycled in Heroya and Glomfjord. As a result the operation of parts of the production facilities is no longer economic.

Despite the general difficult market environment in the PV industry SiC Processing continuously follows and realizes its expansion plans in Asia. In November 2011 SiC Processing commissioned the first of 6 production lines at its new production site in Zhenjiang in China. Production Line 2 is being commissioned at present, line 3 will be completed until end of December 2011. In total, after completion of the 6 production lines in Zhenjiang, there will be approximately 90,000 tons of annual capacity for the recycling of used sawing suspension available at that location by end of 2012, but due to the current market situation initially not fully utilized.

Another 30,000 tons of annual capacity will be available at the new production site Jingdezhen in China after completion of work mid 2012. This capacity also will initially not be fully utilized due to the market environment.

SiC Processing GmbH
SiC Processing GmbH is the leading provider for the recovery of used slurry from the photovoltaic and the semiconductor industry. With about 900 employees worldwide the group is located with an annual production capacity of currently 247,000 tons per year in 5 countries all over the world. Production sites are located in Germany, China, Norway, Italy and USA. The founder family holds a 25% stake beside the majority shareholder Nordic Capital Fund VII.


Press Contact:
Markus Kreuzer
Head of Marketing and Communications
Phone: 0049 (0) 9622 - 70 39 273
E-Mail: markus.kreuzer@sic-processing.de

About Nordic Capital Private Equity Funds

Since the start in 1989, Nordic Capital Private Equity Funds have invested in large and medium sized companies, primarily in Northern Europe. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital creates value in its investments. The funds invest in companies in Northern Europe and in selected investment opportunities internationally. They are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. Additional information about Nordic Capital is available through its corporate website, www.nordiccapital.com

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