http://www.crystalox.com/

With 25 years in solar technology development, PV Crystalox Solar is a leading manufacturer of multicrystalline silicon ingots and wafers, the key component in solar power systems.

Its customers, the world's leading solar cell producers, combine these wafers into solar modules to harness the clean, silent and renewable power from the sun.

PV Crystalox Solar is playing a central role in making solar cost competitive with conventional hydrocarbon power generation, and as such continues to seek to drive down the cost of production whilst increasing solar cell efficiency. The gap between the cost of solar power production and utility energy is decreasing year on year.

With a long history of production with high growth and profitability, PV Crystalox Solar is well placed to benefit greatly from the rapid growth in the solar energy market

London, United Kingdom: PV Crystalox Solar Plans Listing on London Stock Exchange

PV Crystalox Solar, a producer of solar-grade silicon products for solar electricity generation systems, today announced its intention to proceed with an initial public offering of its ordinary shares, which are intended to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange.

JPMorgan Cazenove has been appointed as sponsor to the Company and global coordinator and sole Bookrunner in relation to the offer. Jefferies International Limited has been appointed as co-lead manager.

PV Crystalox Solar, initially established in the UK in 1982, is a highly specialised supplier to the worlds leading solar cell manufacturers, producing multicrystalline silicon ingots and wafers for use in solar electricity generation systems. The Group was one of the first to develop multicrystalline technology on an industrial scale, setting the industry standard for ingot production.

PV Crystalox Solar manufactures silicon ingots in Oxfordshire, United Kingdom, with the majority of its output shipped to Japan, where it is sold either as ingots or as wafers after processing by a sub-contractor. The balance of the Groups ingots are processed into wafers for European customers at the Groups facilities in Erfurt, Germany. The German operation is constantly developing the Groups wire saw technology for the production of thinner wafers.

PV Crystalox Solar has strong, long-established relationships with major solar cell manufacturers, including Sharp and Schott Solar. The Group does not compete with its customers and is therefore able to work closely with them to improve wafer quality and minimize costs.

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.

PV Crystalox Solar has an established record of delivering strong financial performance. The Group recorded revenues of 242m for the year ended 31 December 2006, an increase of 32% (31 December 2005: 183m) and a 56% increase in Group pre-tax profits to 49m (31 December 2005: 31.3m)

In 2006 the Group produced silicon wafers and ingots corresponding to a solar electricity generation capacity of 215 MWp. As at the end of 2006 the Group had available production capacity equivalent to 288 MWp and employed around 200 staff.

Iain Dorrity, Chief Executive Officer, PV Crystalox Solar said PV Crystalox Solar has a long and successful history as one of the worlds leading manufacturers of solar-grade silicon products. Over the last five years we have been consistently profitable, trebling our sales and continuing to grow our margins. We look forward to listing on the London Stock Exchange, which we believe will further enhance our ability to grow the business.

The Group is proposing to build its own polysilicon production facility in Germany to secure an additional source of feedstock. The Directors believe that in-house polysilicon production will provide greater flexibility in sourcing its silicon feedstock. PV Crystalox Solar expects the facility to commence operation in 2009 with an initial planned production volume of 900 metric tonnes in that year, rising to 1,800 metric tonnes in 2011
http://www.solarbuzz.com/news/NewsEUCO396.htm

In this market and day and age : nothing is sure but PVCS is looking good !

Very encouraging update today and good to see new highs.

Blimey !, going like a takeover bid today !.

Just long long overdue and now we've finally broken the highs I expect to see 200p quickly overtaken.

Note also Jefferies recent buy rec, target 252p

strong trading statement .....

Market drivers for the business remain positive with forecasts for the level of PV installations over the coming years showing very strong growth * Performance of the group remains strong * Turnover in our core silicon products business significantly ahead of the levels achieved in the first half of last year

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there's actually a much longer "official" version, but above will suffice for the flavour

Plus the new German plant on schedule (of course!) and production to start in 2009.

Long term wafer supply agreements to be announced at a later date.

Apparently a report in the Mail (??) also saying PVCS trading at 50% discount to peers.

Yes, a quality company with a quality product working in an environment where demand for greener energy is only going to increase.

and how do you rate SOLA?

I'm not a holder so not as highly as PVCS.

Zola was a tremendous player for Chelsea, I rate him very highly !.

I hold sola and PVCS-very different stocks with different cost bases.
SOLA appears to be he solar market leader and the market cant get enough of them.
Today in SOLA will reveal all in my opinion.

PVCS will catch the same ride on the back of a very hot sector.

Hope so

I'm not sure what the Jefferies & Co report of yesterday says, but their target price is 252p from 11/4.

Looking good today...

Lets hope the link between PVCS & SOLA is tenuous, as SOLA has had a bad day, dropping 14%. PVCS still in positive territory, but.............

I sold half my SOLA holding at about 7 the other day and doubled up here with the positive trading statement.

Good to see back page FT comment today, that ABN Amro saying PV worth 270p-310p following offer for Ersol in Germany.

GH can you post the link please

Sorry I was looking at a hard copy. ABN Amro were saying that based on Bosch's price Ersol in Germany, PVCS should be valued btw 270-310p.

New highs today. Won't be long before 200p is cleared imo.

http://www.ft.com/cms/s/0/918c0002-30df-11dd-bc93-000077b07658.html?nclick_check=1