REC Silicon ASA - Butte Efficiency Improvements and Cost Cutting Initiatives

Fornebu, Norway - September 20, 2017: REC Silicon ASA (REC Silicon) announced today that several efficiency improvement and cost cutting initiatives have been implemented at its Butte, Montana production facility.  Further, due to restrictions on solar grade polysilicon from the ongoing solar trade dispute between the US and China, solar grade polysilicon production in Butte has been curtailed.  Going forward, the company will better align the polysilicon production in Butte with semiconductor market demand by shifting the polysilicon production mix.  Because of this change in polysilicon production, there will be less production and processing needs in Butte.  Accordingly, a reduction in headcount of approximately 30 employees has been undertaken.

Tore Torvund, REC Silicon's CEO commented, "Becoming leaner will allow Butte to better compete in the semiconductor market, particularly at the current time, where excessive polysilicon inventories have not yet cleared.  We expect that once those inventories do clear, semiconductor polysilicon demand will increase and Butte will be well-positioned in the future." 

For further information, please contact:
DeeAnna Worley
VP HSE, PSM and HR
Phone: +1 406 496 9953
Email: deeanna.worley@recsilicon.com

Christopher Bowes, Investor Relations
REC Silicon ASA
Phone: +1 509 793 8127
Email: chris.bowes@recsilicon.com

Nils O. Kjerstad
IR Contact Europe
Phone: +47 9135 6659
Email: nils.kjerstad@crux.no

About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine over 30 years of experience and proprietary technology with the needs of our customers, with annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (ticker: REC), the Company is headquartered in Fornebu, Norway.

For more information, go to: www.recsilicon.com