Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
REC, headquartered in Oslo, Norway, is the world's largest producer of solar grade silicon and wafers for solar applications, as well as a significant producer of cells and modules. REC Silicon and REC Wafer are the world's largest producers of solar grade silicon and wafers for solar applications. REC Solar produces solar cells and solar modules. Today the company has plants in USA (polysilicon, Glomfjord and Herøya (wafers), Narvik (cells) and Glava, Sweden (cells) with a total workforce of 1,100.
In order to respond to the continued strong demand for wafers, both from external customers and for own solar cell production, REC announced in a press release on 13 December 2006 that they had decided to build two new plants for multicrystalline wafers at Herøya. The plants, with a combined capacity of approximately 650 MW, will be located adjacent to REC's existing wafer plants and the wafer technology center. Total investments costs are estimated at NOK 2.5 billion. The two new plants will launch the production in the fourth quarter of 2008 and in the second quarter of 2009 respectively. Estimated total number of employees in the two plants is 280.
Eurofound (2006), REC, Business expansion in Norway, factsheet number 64603, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64603.