SiC Processing GmbH
Creditreform Rating AG updates SiC Processing GmbH with rating grade B- (watch) by August 2012
SiC Processing GmbH / Key word(s): Bond 22.08.2012 / 16:30 --------------------------------------------------------------------- Hirschau, 22.08.2012 - Creditreform Rating AG changes the rating of SiC Processing GmbH to B- (watch).The downgrading from BBB- (watch) to B- (watch) comes as a result of the difficult current market of the solar industry. This situation led to lower revenues and a loss in the first half of 2012. The decrease in group revenues compared to the first half of 2011 is mainly due to reduced levels of business at the Bautzen site as well as the complete shut-down of wafer production and insolvency of SiC's (former) customer REC Wafer Norway AS. Despite the difficult market conditions, SiC Processing is pursuing its expansion plans in Asia as planned. Year-end capacity of the SiC Group will reach 290.000 tons end of 2012, thereof 234.000 tons in China. The latest rating certificate is available on our website www.sic-processing.com. The half year report 2012 as well as the rating summary will be published in September. Please register at our website http://www.sic-processing.com/index.php/Newsletter.html to automatically receive the latest news of SiC Processing group SiC Processing GmbH SiC Processing GmbH is the leading provider for the recovery of used slurry from the photovoltaic and the semiconductor industries. With about 900 employees worldwide the group is active in 5 countries -with production sites in Germany, China, Norway and the US as well as a sales office in Italy. The founder's family holds a 25% stake alongside the majority shareholder Nordic Capital Fund VII. Press Contact: Markus Kreuzer Head of Marketing and Communications Telefon: 0049 (0) 9622 - 70 39 273 E-Mail: markus.kreuzer@sic-processing.de End of Corporate News --------------------------------------------------------------------- 22.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 182572 22.08.2012
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