Duisburg, March 27, 2020. PCC has achieved a significant improvement in the liquidity situation of the project company PCC BakkiSilicon hf. which operates our new silicon metal plant. Following extensive negotiations with KfW-IPEX Bank and our Icelandic co-investors, a comprehensive refinancing agreement for PCC BakkiSilicon hf., Húsavík (Iceland) was signed on March 23, 2020. Under the terms of this agreement, the PCC Group company will be granted significant interest deferrals and a postponement of the start of regular repayments, subject to the fulfillment of the final closing conditions, thus significantly underpinning the liquidity situation of this company. The silicon metal plant of PCC BakkiSilicon hf. went into regular operation at the end of October 2019, and production has since remained largely stable.
