Wacker Chemie AG

EANS-News: WACKER Closes Semiconductor Wafer Production in Japan


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Company Information

Subtitle: - 200 millimeter wafer and monocrystalline silicon ingot production in
Japan scheduled to be discontinued by mid-2012
- Transfer of production volumes to Singapore and Portland (Oregon, USA) sites
will increase capacity utilization there, thus optimizing fixed-cost coverage
- Siltronic CEO von Plotho: “We are striving to mitigate plant closure effects
on employees as much as we can”

Munich (euro adhoc) - December 8 28, 2011 - Siltronic, Wacker Chemie AG´s
semiconductor division, intends to streamline its 200 mm wafer production
capacities. As a result, Siltronic plans to close its production site in Hikari,
Japan, by mid-2012. The Munich-based chemical group announced this decision
today. Hikari´s production volumes shall be transferred to Siltronic´s existing
200 mm wafer plants in Singapore and Protland (Oregon, USA), optimizing capacity
utilization at these sites´ facilities. The planned closure is expected to
involve expenses of some EUR70 million. Thereof, around EUR45 million will be
cash-relevant. These expenses had not been included in WACKER´s most recent
earnings forecast for fiscal 2011 which calls for earnings before interest,
taxes, depreciation and amortization (EBITDA) at last year´s level. Currently,
Siltronic is producing at its Hikari site wafers for the semiconductor industry
as well as monocrystalline silicon ingots, employing a staff of some 500. To
ensure optimum support of its Japanese customers, Siltronic will continue to
employ a local sales force and application engineering in Japan.

By closing its Hikari site, Siltronic continues with the structural
improve¬ments already successfully executed and adapts its production capacities
to market demand. Two years ago, Siltronic has implemented a lead-site strategy
enabling wafer production to be concentrated at single sites according to
individual diameters. This allows for a flexible reaction on changing market
trends. Discontinuing production at Siltronic´s Hikari site translates into
optimized utilization rates at the company´s remaining 200 mm production
facilities, higher fixed-cost coverage as well as economies of scale, resulting
in a sustainably improved cost position.

"We are striving to mitigate effects on employees from the plant closure as much
as we can", says Dr. Christoph von Plotho, Siltronic´s Chief Executive Officer.
According to von Plotho, Siltronic plans to offer its Hikari staff severance
packages as well as consultancy and support in their search for a new employment
outside the company. "At the same time, we are working hard to reap the earnings
benefits resulting from this step as fast as possible", von Plotho continued.

About Siltronic
Siltronic is a global leader in the market for hyperpure silicon wafers and a
partner to many top-tier chip manufacturers. Wacker Chemie AG´s semiconductor
division operates production facilities in Europe, Asia and the USA. Siltronic
develops and manufactures wafers with diameters of up to 300 mm. Silicon wafers
form the basis of the modern micro and nanoelectronics. They are used, for
instance, in computers, smartphones, flat-panel displays, navigation systems,
automotive engine control systems and many other applications.

This press release contains forward-looking statements based on assumptions and
estimates of WACKER´s Executive Board. Although we assume the expectations in
these forward-looking statements are realistic, we cannot guarantee they will
prove to be correct. The assumptions may harbor risks and uncertainties that may
cause the actual figures to differ considerably from the forward-looking
statements. Factors that may cause such discrepancies include, among other
things, changes in the economic and business environment, variations in exchange
and interest rates, the introduction of competing products, lack of acceptance
for new products or services, and changes in corporate strategy. WACKER does not
plan to update the forward-looking statements, nor does it assume the obligation
to do so.


Further inquiry note:
Christof Bachmair
Media Relations & Information
Tel.: +49 (0)89 6279 1830
E-Mail: christof.bachmair@wacker.com

end of announcement                               euro adhoc 
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company:     Wacker Chemie AG
             Hanns-Seidel-Platz 4
             D-81737 München
phone:       +49 (0) 89 6279 01
FAX:         +49 (0) 89 6279 1770
mail:     info@wacker.com
WWW:      http://www.wacker.com
sector:      Chemicals
ISIN:        DE000WCH8881
indexes:     MDAX, CDAX, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Hamburg,
             Stuttgart, Düsseldorf, Hannover, München, regulated dealing: Berlin 
language:   English
 

 

 



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