Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (47947)	5/24/2010 10:35:05 AM
From: Donald Wennerstrom	1 Recommendation Read Replies (1) \| Respond to of 95640

MEMC To Buy Privately Held Crystal Co Solaicx For About $76M 9:10 AM ET 5/24/10 \| Dow Jones MEMC Electronic Materials Inc. (WFR) has agreed to acquire silicon-wafer maker Solaicx for about $76 million as the maker of silicon wafers for the solar and semiconductor industries expands its presence in solar electricity. Ken Hannah, an executive in MEMC's solar operations, said the purchase will allow his company "to significantly reduce the cost of" making monocrystalline silicon wafers. He said that market is projected to have a compound annual growth rate of about 50% the next three years. California-based Solaicx has developed technology that yields low-cost and high-efficiency monocrystalline wafers. The company has about 80 employees and a production facility in Portland, Ore. Solaicx said it believes that its joining forces with MEMC will enable the company's customers to further reduce the cost of solar electricity. MEMC will pay $66 million plus the amount of money that been recently invested into the company, or will be by June's closing, by current Solaicx owners. That additional amount is estimated to be $10 million. MEMC, which expects the deal to boost 2011 earnings, said last month it swung to a first-quarter loss as overhead costs more than doubled, which with slumping interest income more than offset a big sales increase. Shares were down 0.3% premarket at $10.98 premarket. The stock has fallen 19% this year through Friday.