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Article: MEMC Provides Operational and Financial Update Following Hurricane Ike.
- Article from:
- Investment Weekly News
- Article date:
- October 11, 2008
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MEMC Electronic Materials, Inc. (NYSE:WFR) has updated its financial targets following the delay of raw material deliveries from its suppliers due to the effects of Hurricane Ike.
"As stated in our press release from last week, our Pasadena facility did not experience any apparent major damage, and we were able to start up the plant systems in preparation for production to begin Monday, September 14, as planned," stated Nabeel Gareeb, MEMC's chief executive officer. "However, some of our regional suppliers had startup difficulties primarily due to power availability, plant issues, and pipeline damage as a result of the Hurricane, preventing them from starting ...