RPT-REC to split silicon, solar units, move out of Norway

Thu Jul 18, 2013 1:31am EDT

OSLO, July 18 (Reuters) - Norwegian solar equipment maker Renewable Energy Corp. will split the company into a separate solar and silicon divisions, independently listing the two and moving out of Norway, it said on Thursday.

It will downsize its headquarters outside Oslo, basing the solar business in Singapore and the silicon business in the U.S., it added.

Separately, the firm said its second quarter earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 152 million Norwegian crowns ($25.00 million), ahead of analysts forecast for 67 million.

FILED UNDER: