Wacker Chemie AG (WCH) climbed the most since August after the German provider of polysilicon said first-quarter volumes surged almost 50 percent as demand rebounded, enabling all its production facilities to run at full capacity.
A new 900 million-euro ($1.19 billion) plant that went into operation today should reach full nominal capacity of 15,000 metric tons in the next few weeks, the Munich-based company said in a statement today. Wacker’s total polysilicon output, including supplies from the new plant, is “almost completely under contract until the end of 2015,” making it one of the largest producers worldwide, it said.
The stock rose as much as 11 percent to 63.60 euros, and traded at 61.14 euros as of 11:13 a.m. in Frankfurt.
“We are optimistic about the outlook for photovoltaics,” Chief Executive Officer Rudolf Staudigl said in the statement. “The expansion of capacity is a key prerequisite to enable us - - now and in the years to come -- to meet our customers’ demand for top-quality polysilicon for use in highly efficient solar cells.”
Demand will remain robust in the months ahead, Staudigl said.
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