REC continues to focus on strengthening its competitiveness through successful ramp-up of new production capacity and improving operational performance. To fully leverage the advantages of being an integrated solar energy company, it has been decided to consolidate REC Wafer and REC Solar, including all of REC's activities in Singapore, under one management, headed up by EVP REC Solar and group COOJohn Andersen, Jr. EVP REC Wafer Einar Kilde has decided to pursue international career opportunities outside REC.

REC's current comprehensive capacity expansion program has now been completed, and as a result of this, REC's EVP Projects Matthew Shippey will in the near future be leaving REC. REC Projects will thereafter report to CFO Bjørn Brenna.

"Einar and Matthew have been instrumental in the construction of REC's Singapore facility and the new Silicon plants in the US. We thank them for their valuable contributions to the development of REC, and we wish them the best of luck in their future endeavors,” said CEO Ole Enger.

Following the organizational changes, REC is expecting to realize further synergies and cost savings through a more efficient organization.