SunEdison Sells Kuching Silicon Wafer Production Facility - Quick Facts

(RTTNews) - SunEdison, Inc. (SUNE) announced the company is selling its Kuching, Malaysia silicon wafer production facility; and plans to close its Pasadena, Texas polysilicon production facility. The company will refocus its Portland, Oregon operations into a cost effective R&D and technology demonstration center. As a result, SunEdison expects to report a total of $266 million in non-cash impairment charges and a total of $171 million in other restructuring charges in its fourth quarter financial results. It also expects to report approximately $10 million to $13 million in other restructuring charges in fiscal 2016.

SunEdison said the polysilicon production at SMP, its joint venture facility in Korea, is on track to meet its production and cost targets and is ramping up towards full operating capacity. SunEdison plans to make its silicon production technologies broadly available through joint venture and licensing agreements.

"We are moving forward on several fronts with our asset-light strategy for the upstream solar materials business," said Ahmad Chatila, SunEdison's CEO.