Timminco Limited

Timminco Limited

March 15, 2007 16:30 ET

Timminco Limited Announces First Commercial Contract for High Purity Silicon

TORONTO, ONTARIO--(CCNMatthews - March 15, 2007) - Timminco Limited (TSX:TIM), a leading producer of specialty and light metals, today announced that its wholly owned subsidiary, Becancour Silicon Inc.("BSI"), has reached agreement to sell high purity silicon to a solar cell manufacturer. The agreement anticipates shipments of high purity silicon in excess of 4,000 metric tons ("mt") over an initial term of 5 years and it represents BSI's first commercial contract for the sale of high purity silicon. BSI currently has the capacity to produce 300 mt of high purity silicon per year and is preparing to ramp up production towards the end of 2007.

"A dedicated team of metallurgists has been working with certain customers over the past year in the course of developing a metallurgical process to purify chemical grade silicon produced by BSI to meet the demanding specifications of solar cell industry participants. BSI has a patent-pending process which enables it to produce high purity (a level of 99.999% purity) or solar grade silicon. In addition, other grades of silicon, including low boron silicon, can be produced using this process" said Mr. Rene Boisvert, President - Becancour Silicon Inc.

"This is a tremendous breakthrough for our research and development team in Becancour and an important step in our strategy. High purity silicon or solar grade silicon is presently used in the manufacture of solar cells and currently attracts a significantly higher selling price per tonne than chemical grade silicon. Negotiations have commenced with other solar cell manufacturers globally and we hope to sign long term commitments over the next few months", continued Mr. Boisvert.


This news release contains forward-looking statements concerning the Company's business and operations. The Company cautions that, by their nature, forward-looking statements involve risk and uncertainty and the Company's actual results could differ materially from those expressed or implied in such statements. Such statements include comments regarding the value of its sales of high purity silicon, future demand for high purity silicon and the future pricing of such product.

There are financial and operational risks inherent in the business, which include, but are not limited to: commodity prices, currency exchange, interest rate, capital, credit, regulatory, political, operational and environmental risks. The Company takes specific measures to manage these risks, and any forward-looking statements in this news release were based on the assumption of no significant changes or trends with respect such risk factors. Although the Company maintains insurance against risks that are typical in its industry, such insurance may not provide adequate coverage under all circumstances. Reference should be made to the most recent Management Discussions and Analyses for a description of the major risk factors. The Company disclaims any duty to update forward-looking statements other than through relevant future Management Discussions and Analyses.


TIMMINCO LIMITED is an international company, a world leader in the production and marketing of alloy magnesium, silicon metal and specialty ferrosilicon, calcium and strontium alloys. The Company's products are used in a broad range of specialized industrial applications and industries such as engineered extruded products, chemical, pharmaceutical, electronics and automotive and metallurgical. The Company's common shares are traded on the Toronto Stock Exchange under the symbol TIM.

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Contact Information

  • Timminco Limited
    Robert Dietrich
    Executive Vice President and CFO
    (416) 364-5171
    (416) 364-3451 (FAX)
    Email: rdietrich@timminco.com
    Timminco Limited
    Rene Boisvert
    President, Becancour Silicon Inc.
    (819) 294-6000
    (819) 294-9001 (FAX)
    Email: rboisvert@silbec.com