SunEdison
| SunEdison | |
|---|---|
| legal form | Corporation |
| founding | 1959 |
| Seat |
Maryland Heights , United States
|
| management | Ahmad Chatila |
| Number of employees | 7,300 |
| sales | 2,484,000,000 US dollars |
| Branch | semiconductor |
| Website | www.sunedison.com |
| As of December 31, 2014 | |
SunEdison is a US semiconductor company based in St. Peters, Missouri. The company was founded in 1959 as Monsanto Electronic Materials Company ( MEMC ) and was part of the Monsanto Group. MEMC has been trading under the name SunEdison since May 30, 2013.
history
founding
MEMC was founded on August 6, 1959 by the US chemical company Monsanto. In 1959, MEMC began producing 19 mm silicon wafers in St. Charles County , Missouri . As one of the first companies in the field of semiconductor wafer production, MEMC became a pioneer and introduced innovations that became the industry standard for years. MEMC used the Czochralski process, introduced chemical-mechanical polishing (CMP) and began producing 1.5-inch wafers . In 1966, the first reactors for the production of EPI wafers were installed and the zero-displacement silicon crystals were discovered by MEMC researcher Horst Kramer .
expansion
In the 1970s, MEMC opened a production facility in Kuala Lumpur ( Malaysia ). The wafer diameters were gradually increased up to 5 inches. In 1981 MEMC was the first non-Japanese company to set up a production and development facility in Japan , namely in Utsunomiya . Three years later, production of 200 mm wafers began, and MEMC was the first company to do so on a commercial basis.
Change of ownership
The high price pressure from Japanese companies put MEMC under increasing pressure in the late 1980s. Despite increasing sales, MEMC was unable to make a profit and was offered for sale by Monsanto to various companies. In 1989 MEMC was bought by Dynamit Nobel Silicons (DNS), a subsidiary of Hüls AG , which in turn belonged to the VEBA Group. At that time, DNS was operating silicon wafer factories in Merano and Novara , Italy . These were incorporated into the new MEMC Electronic Materials , Inc. Hüls supported the new subsidiary with 50 million US dollars, some of which went into research and development. In 1991, MEMC was the first company to produce 300 mm wafers commercially and to produce granular polysilicon . In 1995, MEMC acquired granular polysilicon manufacturing capacity in Pasadena , Texas .
With an IPO in 1995, MEMC became a publicly traded company on the New York Stock Exchange . The IPO raised more than $ 440 million. VEBA gave up part of its shares in MEMC, but retained the majority. In 1998 MEMC was hit hard by a downturn in the cyclical semiconductor market and posted a loss of $ 316 million on sales of $ 759 million. The following years also showed no improvement in sales or earnings.
In June 2000 VEBA AG, which still held 72% of MEMC, merged with VIAG in the newly founded E.ON AG. E.ON wanted to concentrate on its core business of power generation and commissioned Merrill Lynch to sell MEMC. No buyers were found and MEMC also announced in the middle of the year that it was on the brink of bankruptcy. Ultimately, E.ON was able to negotiate the sale of its shares to the private equity company Texas Pacific Group (TPG) - for a symbolic purchase price of US $ 1, as well as the assurance of credit lines of US $ 150 million.
As part of a restructuring of MEMC's debts, TPG was able to increase its stake in MEMC. In addition to measures to reduce costs - the number of employees was reduced from 7,000 to 4,700 - TPG was able to convince customers that MEMC will survive; MEMC's market share rose again. In 2002 MEMC was able to write profits again.
After a significant improvement in the company's key figures, TPG was able to reduce its equity stake to 34% through a secondary offering in 2005, generating more than 750 million US dollars. MEMC did not benefit from any proceeds from the sale.
Entry into the solar market
With the boom in the photovoltaic industry, MEMC was able to conclude numerous long-term supply contracts for solar wafers with a volume of several billion US dollars from 2006, for example with Suntech Power Tainergy Tech, Gintech Energy , or Conergy . Based on high spot prices , not only were purchase volumes agreed in these contracts at fixed prices, but MEMC was also able to collect advance payments. As early as mid-2008, however, there were disagreements with the contractual partners due to the drop in prices for solar wafers. MEMC had to agree to the halving of the delivery contract for 8 billion US dollars with Conergy. Nevertheless, Conergy sued the ineffectiveness of the contract at the beginning of 2009. An out-of-court settlement was reached in 2010, in which MEMC agreed to further reduce the contract volume to less than one billion US dollars.
Recent past
In 2009 MEMC founded a joint venture with Q-Cells , which specializes in the construction and operation of photovoltaic power plants. As a 50 percent partner, MEMC invested 100 million US dollars in the joint company to build the 54 MWp solar field Gänsdorf in Straßkirchen , Bavaria . As planned, the plant was sold to Nordcapital Fondsgesellschaft in 2010 after commissioning .
In late 2009, MEMC acquired SunEdison , a North American company that plans, finances and builds large-scale solar projects and is the largest operator of solar systems in North America. The acquisition was for $ 200 million, 70% of which was in MEMC shares and 30% in cash. A further US $ 90 million was agreed as a performance-related bonus, which was due upon reaching certain targets in 2010.
In mid-2010, MEMC acquired California-based Solaicx for $ 76 million , whose continuous crystal pulling technology enables the cost-effective manufacture of monocrystalline solar wafers.
In early 2011, Samsung Fine Chemicals and MEMC announced that they would set up a 50/50 joint venture in Ulsan , South Korea . This is to produce high-purity polysilicon with a starting capacity of 10,000 tons per year.
Far-reaching restructuring measures were announced in December 2011, in the course of which 1,300 employees (18% of the workforce) are to be cut worldwide and capacities for polysilicon production and the production of solar wafers are to be significantly reduced. MEMC wants to focus more on the project business in the area of PV energy and the semiconductor area. The production of solar modules and preliminary stages is to be greatly reduced.
On May 30, 2013 it was announced that the company would operate as SunEdison in the future . The name was changed on the stock exchange on June 3, 2013.
The Renewable Power Generation division was converted into a YieldCo and floated on the stock exchange in mid-2014 under the name TerraForm .
A Chapter 11 bankruptcy petition was filed on April 21, 2016 .
Business activity
Since the acquisition of SunEdison, MEMC has divided its businesses into three segments.
- Semiconductor Wafers supplies the electronics industry with semiconductors. The MEMC product range includes wafers up to a diameter of 300 mm. Production capacities of around 2 million wafers per month are available. In addition to the Asian production sites in Utsunomiya , Japan , Chonan ( South Korea ), Hsinchu ( Taiwan , Taisil ), Kuala Lumpur and Ipoh (both Malaysia ), MEMC also operates a site in Meran and Novara ( Italy ). The production facilities in the USA ( St. Peters ( Missouri ), Sherman ( Texas )) are to be relocated to Asia. In addition to polished and epitaxial wafers, MEMC offers high resistivity (high electrical resistance) and SOI wafers. MEMC competes in this segment with SUMCO , Shin-Etsu , Siltronic and Siltron . MEMC's market share is around 12%.
- Solar Materials : MEMC manufactures solar and semiconductor grade polysilicon in Pasadena , Texas . The production capacities are 10,000 tons, an expansion to 12,500 tons has been announced. The material is mainly used in-house, but sales were made in 2006-2009. In addition to the opportunistic sale of silanes , solar wafers in particular are sold. Some of these are produced in-house, as their own capacities of 600 MW are not sufficient, but they are also created through contract manufacturing contracts from partners. The Poly division in Meran , South Tyrol was closed, monocrystalline production continues.
- SunEdison's business model allows customers to purchase solar power without pre-financing. SunEdison collects money from investors and uses it to build solar systems - some with MEMC solar wafers. After the installation of SunEdision, the systems will be operated within the framework of service contracts. The investors receive returns from the amount of electricity produced, including state subsidies. The solar power is delivered to power producers or other entrepreneurs; the model is particularly relevant in the USA, where numerous states are stipulating minimum quotas for “green” electricity for the next few years.
| Location | Products | owner |
|---|---|---|
| Chonan, Korea | polished wafers | 80% MEMC, 20% Samsung |
| Hsinchu, Taiwan | polished and epitaxial wafers | MEMC |
| Kuala Lumpur, Malaysia | polished wafers | MEMC |
| Merano, Italy | Si single crystals, polycrystalline silicon (polysilicon) | MEMC |
| Novara, Italy | polished and epitaxial wafers | MEMC |
| Pasadena, Texas, USA | granular polycrystalline silicon (polysilicon), monosilane , silicon tetrafluoride | MEMC |
| St. Peters, Missouri | 100mm to 300mm wafers | MEMC |
| Sherman, Texas, USA | 200 mm wafer | MEMC |
| Utsunomiya, Japan | 125mm to 300mm wafers | MEMC |
Individual evidence
- ↑ Management Team ( Memento of the original from January 6, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ a b c d Annual Report 2014
- ↑ A Fiftieth Anniversary Celebration of MEMC Electronic Materials ( Memento of the original from November 29, 2011 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , Inc., 2009, ISBN 978-1-57864-574-9 (PDF; 15.7 MB)
- ^ Reference for Business Company History Index
- ↑ St. Louis Business Journal MEMC rescued by TPG StLouis.bizjournals.com
- ↑ Page no longer available , search in web archives: Business Wire press release MEMC TPG Deal Bloomberg Business Wire
- ↑ E.ON separates from MEMC ( Memento of the original from July 10, 2011 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. E.ON press release
- ^ MEMC Electronic Materials, Inc. Announces Full Exercise of Over-Allotment Option in Secondary Offering Reuters.com
- ↑ Conergy gamers rely on MEMC liberation ( memento of the original from March 16, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. The shareholder
- ↑ MEMC and Suntech Announce Solar Wafer Supply Letter of Intent ( Memento from July 9, 2012 in the web archive archive.today ) SunTech Power Investor Relations.
- ↑ MEMC Electronic Materials enters 10-year supply contract ( Memento of the original from March 4, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Industry Week
- ↑ MEMC Gintech amend supply deal ( Memento of the original from September 28, 2010 in the Internet Archive ) Info: The archive link was automatically inserted and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Cleantech.com
- ↑ Conergy celebrates liberation - MEMC dispute resolved Handelsblatt
- ↑ MEMC makes major investment in solar projects with Q-Cells ( Memento of the original from September 27, 2010 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. PV-Tech.Org
- ↑ Strasskrichen largest solar park in Germany blog.strom-prinz.de
- ↑ Solarfonds 1 ( Memento of the original from March 13, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. North Capital
- ↑ MEMC acquires solar services leader SunEdison Cleanergy.blogspot.com
- ↑ Press release ( Memento of the original from December 29, 2010 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. SunEdison
- ↑ MEMC to acquire Solaicx for 76 million ( Memento of the original from May 31, 2010 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. www.smartplanet.com
- ^ Samsung Fine Chemicals and MEMC Sign Polysilicon Joint Venture Agreement www.prnewswire.com
- ↑ MEMC Announces Global Restructuring www.memc.com
- ↑ MEMC Changes Company Name To SunEdison ( Memento of the original from January 6, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ pv magazine: Sunedison files for Chapter 11 bankruptcy , April 21, 2016.
