REC to make further adjustments

SANDVIKA, NORWAY: To reduce its exposure towards a continued weak spot market for wafers, Renewable Energy Corp. ASA (REC) has decided to initiate a process with the trade unions, with the intention to temporary halt 50 percent of the capacity of the 300 MW monocrystalline wafer facility in Glomfjord, Norway throughout the first quarter 2012.

The temporary shutdown is expected to affect approximately 65 employees.
On November 29, REC announced temporary halt of 60 percent of the production at the 650 MW multicrystalline wafer facility at Herøya, Norway. After these adjustments REC expects to produce approximately 105 MW of multi- and monocrystalline wafers in Norway in the first quarter 2012.

The integrated wafer, cell and module facility in Singapore (700 MW annual wafer to
module capacity) and the polysilicon facilities in the US (19.000 MT annual polysilicon capacity) continues to operate at full capacity.