Timminco Notes Silicon Discussions; Names New President

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Timminco Ltd. has provided an update on its ongoing discussions with solar-grade silicon customers. These discussions have focused on alternatives to the existing contractual commitments, in the context of maintaining long-term relationships with customers in light of the challenging economic environment and market conditions affecting the solar industry.

In the course of these negotiations, some of the company's solar-grade silicon customers have asserted that their contracts have been terminated due to noncompliance. Timminco says it is in active discussions with each of these customers with respect to their positions and the terms of future relationships, including quality, quantity and pricing for solar-grade silicon.

Additionally, Timminco has promoted John Fenger, president of light metals, to the position of president and chief operating officer of Timminco. Most recently, Fenger was responsible for the restructuring of Timminco's magnesium business. He spent most of his career at Elkem AS, where he was most recently corporate vice president and general manager of that company's foundry market division.

SOURCE: Timminco

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