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

Spain put a cap on solar installations I believe. Same sell off on all solars.

Thanks Greyhound....could you give a bit more info....does this mean that you will need extra planning in Spain ?.....or no more installations in towns etc ?...Cheers !, I picked up a few more this morning.

"Shares in Solaria (SLRS.MC: Quote, Profile, Research) are down 12.8 percent to 7.98 euros after newspaper Cinco Dias reports the government is considering cutting the regulated price of solar power by 35 percent.

"It's fundamentally because of the press, which comments on a worse than expected regulatory framework," says one analyst at a European bank.

Cinco Dias says that the Industry Ministry planned to cut rooftop solar power prices to 33 euro cents a kilowatt and solar panel farms to 29 cents from 44 and 41 cents, respectively.

It also says the government would limit the maximium power of installations to two megawatts and for next year would set a limit that no more than 300 megawatts be installed."

Thanks HARRYCAT,.....I come to the conclusion that the drop is overdone....but looking at the rest of the market....!, everything is down (RIFT except).

Depends if we're now in the depths of recession and whether in 6 months time we could look back and say "wish I'd sold everything". Tough times for sure everywhere.

Completely overdone as it's still plummeting today.

The price of silicon wafers is still going up, making the solar panels even more expensive to produce & sell on. Also, there seems to be huge competition is this field, both in Europe & the Far East. I wonder if it is going to get like wind power, with the cost of manufacturing (the turbines) exceeding the saving in generating costs?

The generation of electrity for domestic consumption whether solar or wind power is totally uneconomic. Sooner or later people will realise they are being conned by politicians only interested in furthering their personal careers.

HARRYCAT - That maybe so but the prices haven't shot up overnight and only 3 days ago PVCS touched 2.

halifax - You're wrong. Solar, wind, wave, etc will play a big part in the future of energy production. And over time it will become more economical.

Strong resilience as we head back up to the highs here.

Doing well....in a market recovery I would like to think that this one would be up in the 230p area or even above that level !.

Down again, what a rotten stockmarket !, so far this month I have not put one single trade through (a record for me), hopefully in September the market might recover...with the dropping PVCS might profit from this....results soon....might then see a recovery.....!.

160p might not hold for PVCS as economy slowing down and oil price coming down which makes solar less in demand.

Another run on 200p coming?

Looks promising.....in time we should see 225p....solar is becoming more and more feasible because of improving technology and PVCS's products are in big demand at the moment.....oil might come down a bit but will start to go up again very soon.....all you need is a little bit of bad news and wooosh !...up it goes !.

certainly rather be long here than SOLA

I'm in this one almost all the time (very ISAble)....and not in SOLA.

Off topic....gas line from Holland shut due to problems....there you go !.

where do you go? ..... underwater to find the leak perhaps? ...... silly boy!

I want oil and gas and solar to rise.....I'll put up with the bill at the pumps (It's selfish I know)....but in the markets they take no prisoners (as so to speak).