Our 2007 annual report already looked in detail at WACKER’s acquisition of the shares previously held by Air Products and Chemicals Inc. in our two former partner companies – Air Products Polymers (APP) and Wacker Polymer Systems (WPS). The full consolidation of these APP activities within the WACKER Group took effect on February 1, 2008. Since then, their sales, expenditures, earnings and resultant payment flows have been included in our income and cash flow statements. Moreover, the assets and debts that were acquired have impacted our figures. APP were fully integrated into WACKER by year-end.
Integration of Air Products’ Business Completed
Effective September 30, 2008, WACKER sold its PIOLOFORM® polymer binder specifications to Kuraray, a Japanese polymer manufacturer. Until their divestiture, PIOLOFORM® products generated sales in the lower double-digit million range for WACKER POLYMERS. The divestiture was motivated by limited industrial growth opportunities for polyvinyl butyrals.
In October, WACKER decided to further expand its polysilicon production capacity. With a nominal capacity of 10,000 metric tons, “Expansion Stage 9” is to be built at our Nünchritz site. Capital expenditures will amount to about €760 million. Burghausen’s “Expansion Stage 8” – currently under construction – is to be extended from 7,000 to 10,000 tons. WACKER is investing around €100 million here.