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

Yes, and their production facilities in Germany must be running properly now and the recovery in Europe with the strong euro is a bit ahead of the UK where in my mind : it hasn't even started yet.

This crap is now 54.5p.

Might rise with oil rising....the company is not crap, far from it but needs orders from Japan and Europe and a hefty oil price to make solar energy well worthwhile.

I wish I'm an optimist like you in a company like this which is breaking new bottoms with time.

PV Crystalox downgraded to sell from hold at Panmure Gordon, target cut to 50p from 60p

Business Financial Newswire
"Nomura says it's a care of 'picking the sunny spots' in the renewable energy sector. PV Crystalox Solar and Renesola are among stocks initiated with buy ratings.

Analyst Catharina Saponar forecasts a strong volume recovery for the sector, but remains selective across the value chain.

'We regard Tier 1 poly manufacturers as benefiting from the volume uplift with sustainable competitive advantages that should compensate for falling prices.

'We believe that the midstream sector will not benefit from the recovery as we are highly uncertain as to sustainable margin levels.

She forecasts a revival and strong growth prospects in the solar thermal sector. 'Global installed capacity could grow by 53% CAGR 2009-20 and beyond that according to our estimate.'

Strong volume recovery is likely this year. However, as a result of forecast over-supply, Nomura expects lower profitability.

Nomura initiates coverage on Wacker Chemie (WCH GR, target price 130), REC (REC NO, TP NOK 46), PV Crystalox (PVCS LN, TP 78p), Renesola (SOLA LN, TP 190p) and Solar Millennium (S2M GR, TP EUR 45) with buy recommendations. "

sinking below 50p now.

Its going to 40p according to my readings.

Rated a sell by KBC today..and a 42p target.

Based on current sp, looks like PVCS will drop out of the FTSE 250.

Harry sp seems to be going up!

and about b***** time too!

dd results due 25th march.

Interim Management Statement.

The Group has experienced increasing demand for its products during the year to date, with market growth being driven in particular by the impending cut in the feed in tariff (FIT) in Germany which will now be implemented from 1 July. Shipment volumes for the first half of the year are now expected to be in the range 155-160MW exceeding our earlier forecast of 145-155MW given at the time of our 2009 preliminary results. This expectation represents a significant growth on the 139MW shipped in the second half of 2009.

The increased market demand has also stabilised wafer pricing and our average wafer prices are expected to be slightly above the top end of the range we previously indicated in March.

Revenues for the first six months of the year are expected to be enhanced by the combination of higher volumes and stabilising prices and accordingly performance in the first half of 2010 is expected to be above management's earlier expectations.

That makes a refreshing change.

This out-of-favour solar energy company's valuation is too low.

Nice move up today.

Indeed. ;-)

Looking at the 200dma

the one below is much easier to read ..... 200 dma being challenged, but assuredly not broken ..... on the other hand, the markets continue to head north for now and crude remains solid(??) too