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Power outage at MEMC’s polysilicon plant hits a week’s output |
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Sep 04, 2007 at 05:40 PM |
 MEMC Electronic Materials has said that a construction incident caused by one of its electrical subcontractors working on the Pasadena, Texas polysilicon facility expansion will mean that polysilicon supply will be impacted by a week.
"It is unfortunate that this incident occurred, but we are glad that all of our employees and contractors are safe, and that we are recovering in a steady fashion," stated Nabeel Gareeb, the company's President and CEO. "Given the circumstances, we are pleased that we should be able to limit the impact on the third quarter to about 5% of our original revenue projections. Despite the short-term effects on our third quarter results, we do not expect this discrete incident to have any affects on our year-end or long-term targets for capacity expansion. We are working diligently to recover from this unfortunate event, and will be working with our customers to minimize any potential impacts on their supply chain. We believe we will have an opportunity to recover some of this lost production in the fourth quarter and thereby potentially reduce the impact on the full-year targets. The specific quantification of this potential recovery will not be available until after the end of this quarter, and will therefore be provided when we report our third quarter earnings results."
MEMC said that power was restored later the same day; however rain and thunderstorms in Pasadena, Texas over the last few days, has hampered restarting of production.
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