Timminco Confirms Extension of Solar Grade Silicon Supply Agreement With Q-Cellsadmin
Timminco Limited announced that the existing solar grade silicon supply agreement between its wholly-owned subsidiary, Becancour Silicon Inc. (“BSI”), and Q-Cells AG (“Q-Cells”)(Frankfurt:QCE.F) has been formally extended for 2010 through 2013, with deliveries of 6,000 metric tons per year, as anticipated in the initial announcement of the agreement on March 26, 2008. Pricing for deliveries in the years 2008 to 2010 is fixed, and for the years 2011 to 2013 will be based upon market conditions, within a fixed floor to ceiling price range. Q-Cells is the world’s largest manufacturer of solar cells.
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.
Contacts: Timminco Limited Robert J. Dietrich Executive Vice President – Finance and CFO (416) 364-5171 (416) 364-3451 (FAX)
Becancour Silicon Inc. Rene Boisvert President and CEO (819) 294-6000 (819) 294-9001 (FAX)