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GCL-Poly Says Polysilicon Output Declined 29% in First Quarter

May 16 (Bloomberg) -- GCL-Poly Energy Holdings Ltd., the largest polysilicon maker, cut production 29 percent in the first quarter of the main raw material used in solar cells.

Output fell to 8,653 metric tons from 12,235 metric tons a year earlier, the Hong Kong-based manufacturer said in a statement today.

GCL-Poly sold 3,702 tons in the quarter, a 22 percent increase from a year ago, at an average price of $16.62 per kilogram, the company said. Wafer production in the first quarter rose 5.8 percent to 1,231 megawatts, as sales, at an average price of 21 cents per watt, gained 20 percent to 1,482 megawatts.

The company said it “expects both the demand and selling prices of polysilicon and wafer to remain stable.”

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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