Extension of its moratorium until 22 January 2018

The District Court of Reykjanes today approved the request of the Board of Directors of United Silicon for an extension of its moratorium until 22 January 2018.

The company’s Board of Directors had originally been granted a moratorium in mid-August this year. In September an extension of the company’s moratorium was requested and the deadline was extended until 4 December. During the moratorium period extensive work has been directed at the necessary analyses of United Silicon’s activities and possible routes for improvements reviewed. Efforts have been directed especially at resolving those objections which have been raised by supervisory bodies to the company’s operations.

Some 60 persons are employed at the plant who have worked in part on maintenance since production was suspended at the beginning of September.

For further information contact Karen Kjartansdóttir, spokesperson for United Silicon, tel. +354 692 9797.

UNITED SILICON

United Silicon is the only silicon production plant in Iceland currently operating one large 32 MW furnace named ISABELLA, with a yearly production capacity of 22.900 ton of silicon. The company currently has 50 employees specialized in silicon production, thereof 10 engineers, 6 operating technicians, 20 specially trained silicon metal manufacturers, 4 workers in raw material handling, a crew of 6 maintenance personnel and 4 persons in the administration. Most of our employees are residing in Reykjanesbær or the Southern Peninsula and a few from the Capital Area. 75% of our employees are Icelandic Citizens.

The silicon metal produced in Iceland is made with clean renewable energy supplied by the state owned power supplier Landsvirkjun. Over half the silicon we produce is used by our costumes in the solar industry in Europe, which all ends up in solar cells on rooftops and solar power plants around the world. The remaining production is sold to the aluminium industry and the silicones industry, which end up in over 12.000 different end products.