December 19, 2007 13:37 ET
TORONTO, ONTARIO--(Marketwire - Dec. 19, 2007) - Timminco Limited ("Timminco")(TSX:TIM) today announced that its wholly-owned subsidiary, Becancour Silicon Inc. ("BSI"), has commenced production of solar grade silicon on the first production line in its new facility in Becancour, Quebec. That facility will be comprised of three production lines, each with an annual capacity of 1,200 metric tons, for a total of 3,600 metric tons. The production lines are being brought into production in series, with the second and third lines anticipated to be coming on stream in the first quarter of 2008.
"This is the day we have been anticipating for over a year," said Mr. Rene Boisvert, President and CEO of BSI. "We are extremely proud of the effort of our engineering and supporting staff who have executed the construction and commissioning of the plant and equipment to a very tight schedule."
This news release contains forward-looking statements concerning Timminco's business and operations. Timminco cautions that, by their nature, forward-looking statements involve risk and uncertainty and that Timminco's actual results could differ materially from those expressed or implied in such statements. Such statements include comments regarding the production lines and commencement of operations at BSI's new facility.
There are financial and operational risks inherent in all of Timminco's businesses, which include, but are not limited to: commodity prices, currency exchange, interest rates, capital, credit, regulatory, political, operational and environmental risks. In Timminco's solar grade silicon business, there are additional risks associated with the expansion of this business and production capacity, increasing product purity, the long-term commercial contracts, and protection of intellectual property. Timminco takes specific measures to manage anticipated risks, and any forward-looking statements in this news release were based on the assumption of no significant changes or trends with respect to such risk factors. However, there can be no assurance that future developments affecting Timminco or its businesses will be those anticipated by Timminco. Reference should be made to the most recent Management's Discussion and Analysis for a description of the major risk factors. Timminco disclaims any duty to update forward-looking statements other than through relevant future Management's Discussions and Analyses.
Timminco is a leader in the production of silicon metal for the electronics, chemical and aluminum industries. Timminco, through BSI, has also commenced production of solar grade silicon metal. Other businesses include the production and marketing of magnesium, calcium and strontium alloys and magnesium extruded and fabricated products. Timminco's products are used in a broad range of specialized industrial applications and industries such as electronics, solar energy, chemical, engineered extruded products, pharmaceutical, automotive and metallurgical. Timminco's common shares are traded on the Toronto Stock Exchange under the symbol TIM.
Timminco LimitedRobert J. DietrichExecutive Vice President - Finance and CFO(416) 364-5171(416) 364-3451 (FAX)Email: firstname.lastname@example.orgBecancour Silicon Inc.Rene BoisvertPresident and CEO(819) 294-6000(819) 294-9001 (FAX)Email: email@example.com
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