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

Sorry don't really know who the major shareholders are, but this is really looking interesting now, it's just a guess as to how far this is going to rise and whether this will spike and then come down again, hopefully not. If it does come down it won't be by much and this is really now looking like at least a good medium term hold.

Cynic: I don't know who the major shareholders are but at the time of floatation: "188,081,886 ordinary shares
will be held in public hands, representing a free float of approximately 45.1 per cent of the issued share capital of the Company."

thanks .... at least though still seemingly controlled by the founder directors, there looks to be sufficient free float to give decent liquidity

Very encouraging performance here of late. Appears to be a bit of momentum behind this finally.

one of my 10 x tips/considerations for 2008 ..... below is what i posted on FTSE thread

PVCS = PV Crystalox Solar
what a mouthful, but at least this is in "flavour of the month/year" sector
company has been around 25 years and is certainly a much safer bet that SOLA
rns 3rd Dec was extremely bullish, which may not yet be discounted in the share price.
figures prob due mid March but not yet announced

Really moving this one now, I can't believe how much this has gone up since I acquired some.

It doesn't seem as though 150p was much of a barrier after all, required field. Let's hope it can maintain its momentum into the weekend.

No, It's just flown straight through it.

Nice start again. Don't forget a stronger Yen is also benefitting us here.

RNS today:

PV Crystalox Solar Trading update

PV Crystalox Solar plc is today providing a further trading update to that given
on 3rd December. This update is based upon a review of recent management
accounts and initial indications of the full year results.

Following a strong financial performance in the final part of the year, the
Board now expects EBIT before non-recurring costs (IPO costs and Employee
Benefit Trust costs) for the year to 31 December 2007 will be ahead of market
estimates and not less than Euros70m.

Good update, won't be long before we're back testing the highs.

It is a good update so why the initial fall this morning?

We were up, market woes appear to be increasing and probably after recent gains some profit taking. Still a good hold imo.

I think because sp had already risen in response to the earlier update of 03 December. Could pull back to about 140p?

With all the people in this and good news this should keep on rising.

Agree should certainly keep on rising long term.

right sector and only good news being reported

This has all the appearance of a traditional market shake, though I'm no expert.

I agree with all of the bullish comments. I'm very keen on PVCS but it continually frustrates me when good results are met by dips in share prices!

FT article today, page 21