Tuesday, August 5, 2008

MEMC Sees Two-Day Hit On Poly Output From Storm (WFR)

As Grandmother used to say, "One tham ding after another". A couple weeks ago we relayed,
"The company said in June it suffered “the premature failure of a relatively new heat exchanger” at its Merano, Italy facility, reducing Q2 polysilicon output by 5%. MEMC said that in May and early June it looked like strong output from its Pasadena, Texas plant positioned the company to exceed the upper end of its its targeted revenue range, but that “unfortunately, a loose pipe fitting caused a fire at the company’s Pasadena facility”...

Now Tech Trader Daily is reporting:
MEMC Electronic Materials (WFR) said in a statement this morning that preparations at its Pasadena, Texas, facility to prepare for Tropical Storm Edouard is expected to result in “a two-day effect” on polysilicon production at the plant....

The stock is down 2%. I'm reminded of Viktor Chernomyrdin, former head of Gazprom who said, in a different context:
"We meant to do better, but it came out as always"