MEMC Provides Status Update After Raw Material Release
ST. PETERS, Mo., April 24 /PRNewswire-FirstCall/ -- MEMC Electronic
Materials, Inc. (NYSE: WFR) provided an update on the status of a raw material
release at its facility in Pasadena, Texas.
The company reported that at approximately 4:20 PM this afternoon a
transfer line from a transport vehicle developed a leak and caused a release
of STF, a raw material gas used in the manufacturing process. The leak was
quickly contained by the on-site emergency response team and the flow of
material was stopped. At this time the company does not believe there was any
offsite impact from the release due to the quick dissipation of the material
in the atmosphere. Approximately 18 people were transported to area hospitals
for further evaluation and/or treatment.
"Our first concern, as always, is the safety of our employees. As a
result, we are taking all measures to ensure the continued safe operating
environment for our employees by executing a controlled shutdown of the front-
end of the facility to enable a thorough safety review of the raw material
transfer system before resuming operations. This is an unfortunate incident,
apparently due to a faulty transfer line, which we will thoroughly
investigate," stated Nabeel Gareeb, MEMC's President and CEO.
At this stage, the company anticipates that production will resume on
Friday, April 25, 2008 and does not anticipate any impact to the financial
targets provided earlier today as a result of this incident.
About MEMC
MEMC is a global leader in the manufacture and sale of wafers and related
intermediate products to the semiconductor and solar industries. MEMC has
been a pioneer in the design and development of wafer technologies over the
past four decades. With R&D and manufacturing facilities in the U.S., Europe
and Asia, MEMC enables the next generation of high performance semiconductor
devices and solar cells. MEMC's common stock is listed on the New York Stock
Exchange under the symbol 'WFR' and is included in the S&P 500 Index.
Certain matters discussed in this news release are forward-looking
statements, including that production will resume at the Pasadena facility on
April 25, 2008 and that there will not be any impact to the financial targets
provided on April 24, 2008. Such statements involve certain risks and
uncertainties that could cause actual results to differ materially from those
in the forward-looking statements. These forward-looking statements represent
the company's judgment as of the date of this release. The company disclaims,
however, any intent or obligation to update these forward-looking statements.
SOURCE MEMC Electronic Materials, Inc.
Bill Michalek, Director, Investor Relations, MEMC Electronic Materials, Inc.,
+1-636-474-5443
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