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An update from REC Silicon ASA ( (RNWEF) ) is now available.
REC Silicon Inc, a subsidiary of REC Silicon ASA, has secured a USD 40 million term loan from Hanwha International LLC to support its capital needs during the shutdown of its Moses Lake facility and transition to a silicon gas provider. The company also announced the termination of its polysilicon supply agreement with QCells, which includes a delayed reimbursement of USD 30 million. These measures aim to focus REC Silicon’s efforts on its silicon gas business, optimize production at its Butte facility, and stabilize its financial standing amid a strategic review to address operational challenges.
More about REC Silicon ASA
REC Silicon is a leading producer of advanced silicon materials, delivering high-purity silicon gases to the solar and electronics industries worldwide. The company combines over 40 years of experience and proprietary technology to meet the needs of its customers. It is listed on the Oslo Stock Exchange and headquartered in Lysaker, Norway.
YTD Price Performance: -25.00%
Average Trading Volume: 41,426
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $50.03M
Learn more about RNWEF stock on TipRanks’ Stock Analysis page.
