SiC Processing GmbH
SiC Processing shuts down its production site in HerØya / Norway
SiC Processing GmbH / Key word(s): Enterprise/ 27.04.2012 / 14:15 --------------------------------------------------------------------- Hirschau, 27th April, 2012 - latest by end of June 2012 SiC Processing AS, a subsidiary of the SiC Processing Group, is closing its production site in HerØya/Norway. Caused by the permanent close-down of all production facilities for wafers at its main customer in HerØya the operation of the slurry recycling plant of SiC Processing is no longer cost efficient and economic. Thus 4 production lines at plant Heroya II with an annual capacity of 44,000 tons are affected, in addition to the 2 lines at plant Heroya I already closed down in July 2011. As a result, c.100 employees will have to be laid off at location HerØya. The business relation between SiC Processing and its customer is based upon long-term slurry supply contracts with durations until 2019. Both parties are currently discussing further steps and proceedings. The management of the SiC Processing Group regrets these measures very much, however there are unfortunately at present no alternatives for a continuous economical operation of the plants. 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 industry. With about 900 employees worldwide the group is located with an annual production capacity of currently 240,000 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 End of Media Release --------------------------------------------------------------------- 27.04.2012 Dissemination of a Press Release, 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 --------------------------------------------------------------------- 167149 27.04.2012
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