The new company, REC Solar ASA (REC Solar), comprising the solar panel operation and distribution, will be headquartered in Singapore. The company will be listed on the Oslo Stock Exchange under the ticker RECSOL.
The remaining operations of REC has been renamed REC Silicon ASA (REC Silicon), as this name better reflects the nature of the company's business as a producer of advanced silicon materials, the company says. REC Silicon will be headquartered in Moses Lake, Washington, US, and will continue to be listed on the Oslo Stock Exchange under the ticker REC.
REC wants to establish two solid, independent companies which are both well positioned to follow separate consolidation paths as industry leaders in their respective fields going forward.