Timminco and Q-Cells Replace Solar Grade Silicon Contract

Timminco and Q-Cells Replace Solar Grade Silicon Contract 
TORONTO, ONTARIO -- (MARKET WIRE) -- 05/25/09 --  Timminco Limited
("Timminco") (TSX: TIM) and Q-Cells SE ("Q-Cells") (FRANKFURT: QCE)
announced that they have reached a new supply agreement for solar
grade silicon. It will replace the agreement signed in 2008 for the
five-year period through 2013. The new agreement contemplates
deliveries of 100 mt of solar grade silicon for the remainder of
2009. Volumes, pricing and other terms for deliveries of solar grade
silicon in years 2010 to 2013 will be subject to mutual agreement by
the end of 2009 and will be negotiated in the context of prevailing
solar industry market conditions. Timminco will also return the
outstanding deposit of approximately EUR 8.9 million to Q-Cells. The
companies agreed to a repayment schedule that will commence in the
first quarter 2010 and be completed by the end of 2010. Timminco will
pay interest on the outstanding balance at an agreed rate. 
"Q-Cells is a valued customer of Timminco." said Rene Boisvert,
President of Becancour Silicon Inc. "We look forward to continuing to
build a long term relationship with Q-Cells based upon application of
our UMG-Si technology." 
"We believe in upgraded metallurgical silicon as an important
resource for the production of solar cells in the mid- to long-term
perspective" says Anton Milner, CEO of Q-Cells SE. "Our technical
department is working closely with Timminco to ensure that the
material consistently meets our high quality needs." 
About Timminco 
Timminco produces solar grade silicon for the solar photovoltaic
energy industry. Using its proprietary, patent pending technology,
Timminco purifies silicon metal into solar grade silicon (also known
as upgraded metallurgical silicon) for use in the manufacture of
solar cells. Timminco also produces silicon metal, magnesium
extrusions and other specialty metals for use in a broad range of
industrial applications serving the aluminum, chemical,
pharmaceutical, electronics and automotive industries. 
CAUTIONARY NOTE ON FORWARD-LOOKING INFORMATION 
This news release contains "forward-looking information", as such
term is defined in applicable Canadian securities legislation,
concerning Timminco's future financial or operating performance and
other statements that express management's expectations or estimates
of future developments, circumstances or results. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "expects", "believes",
"anticipates", "budget", "scheduled", "estimates", "forecasts",
"intends", "plans" and variations of such words and phrases, or by
statements that certain actions, events or results "may", "will",
"could", "would" or "might" "be taken", "occur" or "be achieved". In
this news release, such information includes statements regarding:
volumes, pricing and other terms for deliveries of solar grade
silicon, repayment of the outstanding deposit, and the supply
relationship with Q-Cells. Forward-looking information is based on a
number of assumptions and estimates that, while considered reasonable
by management based on the business and markets in which Timminco
operates, are inherently subject to significant operational, economic
and competitive uncertainties and contingencies.  
Timminco cautions that forward-looking information involves known and
unknown risks, uncertainties and other factors that may cause
Timminco's actual results, performance or achievements to be
materially different from those expressed or implied by such
information, including, but not limited to: deteriorating global
economic conditions; future growth plans and strategic objectives;
liquidity risks; limitations under existing credit facilities;
long-term contracts for supplying solar grade silicon; solar grade
silicon production cost targets; selling prices of solar grade
silicon and silicon metal; achieving and maintaining the purity of
solar grade silicon; production capacity expansion at the Becancour
facilities; pricing and availability of raw materials for the silicon
business; customer capabilities in producing ingots; limited history
with the solar grade silicon business; dependence upon power supply
for silicon metal production; protection of intellectual property
rights; government and economic incentives; closure of the magnesium
facilities and the completion of related proposed transactions; cost
and availability of magnesium metal; dependence upon key customers of
magnesium extruded and fabricated products; credit risk exposure;
customer concentration; equipment failures; labour disputes; foreign
currency exchange; dependence upon key executives and employees;
completion and integration of potential acquisitions, partnerships or
joint ventures; risks with foreign operations and suppliers;
environmental, health and safety laws and liabilities; transportation
disruptions; conflicts of interest; interest rates; intellectual
property infringement claims; new regulatory requirements; changes in
tax laws; and climate change. These factors are discussed in greater
detail in Timminco's Annual Information Form for the year ended
December 31, 2008, and Timminco's most recent Management's Discussion
and Analysis, each of which is available via the SEDAR website at
www.sedar.com. Although Timminco has attempted to identify important
factors that could cause actual results, performance or achievements
to differ materially from those contained in forward-looking
information, there can be other factors that cause results,
performance or achievements not to be as anticipated, estimated or
intended. There can be no assurance that such information will prove
to be accurate or that management's expectations or estimates of
future developments, circumstances or results will materialize.
Accordingly, readers should not place undue reliance on
forward-looking information. The forward-looking information in this
news release is made as of the date of this news release and Timminco
disclaims any intention or obligation to update or revise such
information, except as required by applicable law. 
Sedar File Profile #00000838 
Contacts:
Timminco Limited
Robert Dietrich
Executive Vice President - Finance and CFO
(416) 364-5171
(416) 364-3451 (FAX)
Email: rdietrich@timminco.com 
The Equicom Group Inc.
Joe Racanelli
(416) 815-0700 ext. 243
(416) 815-0080 (FAX)
Email: jracanelli@equicomgroup.com
 
 
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