Reference is made to REC's third quarter 2011 report, where REC is expecting to continue to recognize income from termination of long term wafer sales contracts.
In the period 2006 - 2008, REC entered into a number of long term wafer sales contracts. REC has now accepted to terminate one of these contracts against a cash compensation of approximately NOK 200 million to be received in the first quarter 2012.
Including earlier received prepayments, REC expects to recognize income of approximately NOK 325 million in the first quarter 2012 related to termination of this contract.
For further information, please contact:
Mikkel Tørud, VP & IRO, phone: +47 976 99 144
