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

nice work greyhound been watching for a while

tried to buy this also WSM and EAGA in my isa but hoodless would not buy online--is it telephone only for new floats?

I have both in my ISA, but only EAGA I managed to get in the placing. PVCS looks very cheap to me and with expansion in Germany and the ability to start increasing the wafer cutting side of the business (much more profitable), I suspect they will meet their deadlines and forecasts in the future.

Taking another tranche here as I suspect it will benefit from any switching from ReneSola as a by-the-by but also profits look set to increase steadily with increasing demand out of Germany. Still of the opinion that this is incredibly good value for ISAable tax-free gains and a general unawareness that the company has already floated. Expect to read more about it before too long.

Starting to edge higher here on a generally red day.

Greyhound, thanks. I've checked it out and picked up a few so watch this space! :-)

welcome! Hope they're in your ISA for tax free gains! I suspect it won't be too long before the press pick up on this one and we're reading about it at the weekend.

Greyhound, I haven't done the ISA thing. Just a solid hunch and a good gut feeling about this one for the moment. I need to do more research before I jump on the longterm/ISA bandwagon but I like the sound of this one ... Cheers! :-)

Anyone got any forecasts ?

Yep, rain in Oxford this week. I hope that helps.

Cheers Dai most helpful :-)

Nice gains today so far, perhaps benefitting from ReneSola.

Closing at new highs today. I suspect it won't be too long (late July) when we'll see some broker recommendations. Big divergence today from ReneSola which has fallen some 4.4%.

Anyone got any forecast earnings ?

Another fast rise so far this morning, up another 8% and this is just the beginning I hope. Medium term this could be a nice multi-bagger.

Greyhound, I told them to watch this space but they didn't listen! :-). I owe you one. Thanks.

i am hare.

After yesterday's gain only reasonable to expect some retracement - nothing goes up in a straight line. It's still very early days and on the initial float we didn't see a runaway share price. Personally I think it's onwards and upwards here, even now as I write the price coming off its earlier lows.

Hoodless Brennan prefer you to deal on-line because they make more money out of you that way. e.g.,Whenever I try to sell I find I can only do so in 500 share batches, which brings them 4 x commission on the 2,000 shares I try to sell as a norm. Seems a costly exercise for a " low-cost " service. This, is in-spite of 2,000 shares being the obligatory
service that the MM's are obliged to accept.

I prefer to use traditional brokers and speak to people. For higher risk stocks I hold you want to be able to deal (either up or down), should you need to while those online are fiddling to try and get done in small volume. My own preference - costs more, but pays for itself.