WACKER and Chinese Ministry of Commerce find Amicable Solution for Imported Polysilicon - Wacker Chemie AG


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WACKER and Chinese Ministry of Commerce find Amicable Solution for Imported Polysilicon

  • AGREED MINIMUM IMPORT PRICES ARE BASED ON MARKET PRICES
  • MOFCOM REFRAINS FROM APPLYING ANTI-DUMPING AND ANTI-SUBSIDY TARIFFS
  • WACKER CAN CONTINUE SUPPLYING POLYSILICON IN CHINA AT COMPETITIVE PRICES
  • CEO RUDOLF STAUDIGL: “THIS AMICABLE SOLUTION IS IN THE BEST INTERESTS OF WACKER AND CHINA’S SOLAR INDUSTRY”

Munich, Mar 18, 2014

Wacker Chemie AG and the Chinese Ministry of Commerce (MOFCOM) have resolved the issue of polysilicon exports to China. An agreement to this end was signed in Beijing. WACKER, for its part, undertakes not to sell polysilicon produced at its European plants below a specific minimum price in China. MOFCOM, in turn, will refrain from applying anti-dumping and anti-subsidy tariffs on this material. The agreement takes effect on May 1, 2014, and lasts until the end of April 2016.

Appropriate schemes ensure that the Munich-based chemical group can continue to offer its polysilicon at standard market conditions in China in the future. WACKER and MOFCOM have decided not to disclose the contents and details of the agreement.

“I am pleased that existing differences concerning the prices for our polysilicon exports to China have been successfully resolved through dialogue,” said WACKER CEO Rudolf Staudigl in an initial statement. “The agreed solution is in the best interests of both WACKER and China’s solar industry. We can continue supplying our high-quality material at competitive prices to our Chinese customers, who need it to produce highly efficient solar modules. This agreement is an excellent example of how conflicting opinions in trade issues can be amicably solved through constructive discussions and negotiations based on trust.”

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.

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