REC bruised but unbowed after year of upheaval, COO says

The Singapore factory now looms as the biggest challenge for REC

After a bruising period in which it permanently closed its Norwegian plants and saw its bondholders reject a refinancing proposal, REC has finally won itself some breathing space – and now feels confident about its position in the topsy-turvy PV game.

“It really has been a year or more of significant restructuring, both on the operations side and certainly on the financial side,” acknowledges chief operating officer John Andersen.

“But on the other hand, we feel quite optimistic with respect to our silicon business and our operations in Singapore,” Andersen tells Recharge. “That’s where we’re focused right now, and we do think we have exciting times ahead.”

On 22 June REC tabled a sweeping refinancing package that included a substantial new share issue, a proposed delay in the maturity of its bank…

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