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September 5, 2012

Settlement Agreement with MEMC

Evonik Industries and its customer MEMC Electronic Materials have agreed to settle and resolve disputes related to two long-term take-or-pay supply agreements for the supply of trichlorosilane (TCS) to MEMC's Merano, Italy polysilicon facility. Pursuant to the settlement agreements, MEMC will pay Evonik a total of 70 million Euro in full settlement of all obligations under the terminated supply agreements.
As part of the settlement agreements, MEMC will acquire the Evonik TCS production plant, which is located on MEMC’s Merano site.

"We had very fruitful discussions and came to the best solution for Merano as a production site of the silicon industry," states Michael Gatterman, Head of the Business Line Advanced Silanes and hence responsible for the TCS business. "We are sure to make a valuable contribution for the resume of the polysilicon production through this agreement with our customer."

 

Accordo di composizione amichevole con MEMC

Evonik Industries e il suo cliente MEMC Electronic Materials hanno raggiunto un'intesa per definire e risolvere la vertenza riguardante i due contratti di lungo periodo secondo la formula “take or pay” per la fornitura di triclorosilano ( TCS) dell’impianto di policristallo dello stabilimento MEMC di Merano, Italia. Secondo quanto previsto dall’accordo MEMC pagherà 70 Milioni di Euro a Evonik a saldo delle obbligazioni derivanti dalla chiusura dei contratti di fornitura. Nell'ambito delle soluzioni individuate dalle parti, MEMC acquistera' lo stabilimento di produzione TCS di Evonik situato presso lo stabilimento MEMC di Merano.


"Abbiamo avuto delle discussioni molto fruttuose e siamo giunti a individuare la migliore soluzione possibile per Merano come sito produttivo dell’industria del silicio," dichiara Michael Gatterman, Capo della Linea di attività "Advanced Silanes", ovvero "silani a tecnologia avanzata" e di conseguenza responsabile della produzione di TCS. "Grazie alla soluzione individuata con il nostro cliente siamo certi di poter dare un contributo rilevante alla ripresa della produzione di polisilicio."

Company information

Evonik, the creative industrial group from Germany, is one of the world leaders
in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Evonik benefits specifically from its innovative prowess and integrated technology platforms.

Evonik is active in over 100 countries around the world. In fiscal 2011 more than 33,000 employees generated sales of around €14.5 billion and an operating profit (adjusted EBITDA) of about €2.8 billion.

Disclaimer

In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.