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For the fourth quarter of 2008, Timminco produced 554 metric tons (mt) of solar grade silicon, representing an increase of 62% over that produced during the third quarter and resulting in total production of 1,214 mt for the 2008 year. Shipments of solar grade silicon for the fourth quarter were 423 mt. As a result, Timminco achieved total shipments for the 2008 year of 1,044 mt.
The average selling price for solar grade silicon shipped in the fourth quarter was $65 per kg, resulting in gross revenue of $27.7 million for this product line in the quarter. Average selling price in the quarter reflects customer mix and the depreciation of the Canadian dollar against the Euro and US dollar during the quarter.
In addition, Timminco commissioned its fifth and sixth production lines in the last week of November and the third week of December 2008, respectively.
About Timminco
Timminco is a leader in the production and marketing of lightweight metals, specializing in solar grade silicon for the rapidly growing solar photovoltaic energy industry. Using its proprietary technology, Timminco processes metallurgical grade silicon into low cost solar grade silicon for use in the manufacture of solar cells. Timminco also produces silicon metal, magnesium extrusions and other specialty metals for use in a broad range of industrial applications serving the aluminum, chemical, pharmaceutical, electronics and automotive industries.
Sedar File Profile #00000838
JAN 12, 2009
Timminco Provides Update on Solar Grade Silicon Operations
For the fourth quarter of 2008, Timminco produced 554 metric tons (mt) of solar grade silicon, representing an increase of 62% over that produced during the third quarter and resulting in total production of 1,214 mt for the 2008 year. Shipments of solar grade silicon for the fourth quarter were 423 mt. As a result, Timminco achieved total shipments for the 2008 year of 1,044 mt.
The average selling price for solar grade silicon shipped in the fourth quarter was $65 per kg, resulting in gross revenue of $27.7 million for this product line in the quarter. Average selling price in the quarter reflects customer mix and the depreciation of the Canadian dollar against the Euro and US dollar during the quarter.
In addition, Timminco commissioned its fifth and sixth production lines in the last week of November and the third week of December 2008, respectively.
About Timminco
Timminco is a leader in the production and marketing of lightweight metals, specializing in solar grade silicon for the rapidly growing solar photovoltaic energy industry. Using its proprietary technology, Timminco processes metallurgical grade silicon into low cost solar grade silicon for use in the manufacture of solar cells. Timminco also produces silicon metal, magnesium extrusions and other specialty metals for use in a broad range of industrial applications serving the aluminum, chemical, pharmaceutical, electronics and automotive industries.
Sedar File Profile #00000838