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Daqo New Energy To Discontinue Solar Wafer Manufacturing Operations

Daqo New Energy Corp. (DQ) announced the company plans to discontinue its solar wafer manufacturing operations in September 2018 so that it can focus on core polysilicon manufacturing business. The company expects to incur approximately $21.6 million in fixed-asset impairment and restructuring charges during the third quarter of 2018.

Longgen Zhang, CEO of Daqo New Energy, said, "We made a strategic decision to discontinue our solar wafer manufacturing operations to accommodate the increasingly challenging market conditions for multi-crystalline wafers. This move will allow us to focus all of our resources and expertise on our core polysilicon manufacturing business and Phase 3B expansion project which will begin pilot production in the fourth quarter of 2018."

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