HHI 'walking away' from poly unit

Polysilicon prices have crashed since HHI formed KAM

Polysilicon prices have crashed since HHI formed KAM

Hyundai Heavy Industries (HHI) is reportedly exiting its polysilicon joint venture, Korean Advanced Materials (KAM), which it owns alongside Korean peer KCC.

HHI is simply walking away from its investment in KAM to avoid losing any more money and transferring its stake to KCC for free, according to the Korea IT Times.

HHI formed KAM alongside the polysilicon maker KCC in 2008, with an eye towards securing feedstock for its cell business at a time when polysilicon prices were through the roof.

Since then, however, prices have crashed back to Earth and a number of Korean PV producers are understood to have contemplated pulling back from the sector in the face of blistering Chinese competition.

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