Wacker reports lower 2012 net income on decline in polysilicon and solar silicon prices

Wacker Chemie today reported a major decline in its full-year 2012 earnings and sales caused primarily by overcapacities in the photovoltaic industry. Group net income declined to €107 million ($144.9 million) from €356 million in 2011, according to preliminary figures released today. Sales in 2012 were almost 6% down, at €4.63 billion. The decline is due mainly to lower prices for polysilicon and semiconductor wafers, the company says. Price effects reduced last year’s consolidated sales by €700 million. The chemical division, in...

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