Timminco Limited
TSX : TIM

Timminco Limited

September 06, 2007 09:00 ET

Timminco Limited Announces Third Commercial Contract for High Purity Silicon

TORONTO, ONTARIO--(Marketwire - Sept. 6, 2007) - Timminco Limited (TSX:TIM) today announced that its wholly owned subsidiary, Becancour Silicon Inc. ("BSI"), has entered into an agreement to sell high purity silicon to a solar cell manufacturer. The agreement provides for shipments of 13,100 metric tons over a term of 5 years subject to production capacity expansion. The agreement represents BSI's third long term commercial contract for the sale of high purity silicon. BSI currently is constructing a facility to produce 3,600 metric tons of solar silicon per year at its location in Becancour, Quebec. That facility is expected to begin production in the fourth quarter of 2007, reaching full production capacity by the end of the first quarter of 2008. In addition to this expansion, additional capacity will be required over time to satisfy current contracted volumes and future demand.

"BSI's announced plans have generated a significant level of interest from prospective customers, leading to this third significant supply agreement. This level of interest reflects the potential for growth in the solar industry and the importance of silicon supply to that growth." said Mr. Rene Boisvert, President and CEO of BSI.

FORWARD LOOKING STATEMENTS

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 future demand for high purity silicon, plans for expansion and the finalization of the specification for high purity silicon.

There are financial and operational risks inherent in the business, which include, but are not limited to: commodity prices, currency exchange, interest rates, capital, credit, regulatory, political, operational and environmental risks. The Company 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 the Company will be those anticipated by the Company. 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.

ABOUT TIMMINCO

TIMMINCO LIMITED is a leader in the production of silicon metal for the electronics, chemical and aluminum industries. The Company, through BSI, has also commenced production of solar grade silicon metal. Other businesses of the Company include its leading global position as a producer and marketer of magnesium, calcium and strontium alloys and magnesium extruded and fabricated products. The Company'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. The Company's common shares are traded on the Toronto Stock Exchange under the symbol TIM.

Contact Information

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