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|MEMC Provides Status Update After Raw Material Release|
|ST. PETERS, Mo., April 24, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- MEMC Electronic
Materials, Inc. (NYSE: WFR) provided an update on the status of a raw material
release at its facility in Pasadena, Texas.
The company reported that at approximately 4:20 PM this afternoon a transfer line from a transport vehicle developed a leak and caused a release of STF, a raw material gas used in the manufacturing process. The leak was quickly contained by the on-site emergency response team and the flow of material was stopped. At this time the company does not believe there was any offsite impact from the release due to the quick dissipation of the material in the atmosphere. Approximately 18 people were transported to area hospitals for further evaluation and/or treatment.
"Our first concern, as always, is the safety of our employees. As a result, we are taking all measures to ensure the continued safe operating environment for our employees by executing a controlled shutdown of the front- end of the facility to enable a thorough safety review of the raw material transfer system before resuming operations. This is an unfortunate incident, apparently due to a faulty transfer line, which we will thoroughly investigate," stated Nabeel Gareeb, MEMC's President and CEO.
At this stage, the company anticipates that production will resume on Friday, April 25, 2008 and does not anticipate any impact to the financial targets provided earlier today as a result of this incident.
MEMC is a global leader in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries. MEMC has been a pioneer in the design and development of wafer technologies over the past four decades. With R&D and manufacturing facilities in the U.S., Europe and Asia, MEMC enables the next generation of high performance semiconductor devices and solar cells. MEMC's common stock is listed on the New York Stock Exchange under the symbol 'WFR' and is included in the S&P 500 Index.
Certain matters discussed in this news release are forward-looking statements, including that production will resume at the Pasadena facility on April 25, 2008 and that there will not be any impact to the financial targets provided on April 24, 2008. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.
SOURCE MEMC Electronic Materials, Inc.