PV Crystalox Solar, a solar-grade silicon manufacturer, announced it would list on the London Stock Exchange.
PV Crystalox Solar, established in the UK in 1982, supplies the world’s leading solar cell manufacturers with multicrystalline silicon ingots and wafers. The Group was one of the first to develop multicrystalline technology on an industrial scale, setting the industry standard for ingot production.
By focusing purely on the production of solar-grade silicon products, the Group benefits from the higher margins available to companies in the upstream of the photovoltaic value chain, where there are fewer competing manufacturers and higher barriers to entry.
The company’s revenues rose 32% to Euro 242 million in 2006, while pre-tax profits rose 56% to Euro 49 million.
Iain Dorrity, CEO said, “Over the last five years we have been consistently profitable, trebling our sales and continuing to grow our margins.”
The company plans to build a polysilicon production facility in Germany which should come online in 2009. The initial planned production volume si 900 metric tonnes in that year, rising to 1,800 metric tonnes in 2011.
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