CHONGQING, China, Jan. 31, 2014 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" or the "Company"), a leading polysilicon manufacturer based in China, today announced that the company has successfully completed the debottlenecking project for its Xinjiang polysilicon facilities.
The Company has already started ramping up production for the newly added facilities and expects to increase the annual capacity to 6,150 MT and lower the total production cost to the level of $14/kg.
"It is very exciting for us to complete the project on time. We will spare no effort to further enhance our operation to optimize our cost structure and quality," commented Dr. Gongda Yao, Chief Executive Officer of Daqo New Energy. "As the solar PV market keeps improving, we see stronger demands for polysilicon recently. The newly added capacities will enable us to better address our customers' increasing needs for high quality polysilicon."
About Daqo New Energy Corp.
Daqo New Energy Corp. (NYSE: DQ) is a leading polysilicon manufacturer based in China. Daqo New Energy primarily manufactures and sells high-quality polysilicon to photovoltaic product manufacturers. It also manufactures and sells photovoltaic wafers. For more information about Daqo New Energy, please visit www.dqsolar.com
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, quotations from management in this announcement, as well as Daqo New Energy's strategic and operational plans, contain forward-looking statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in the reports or documents we have filed with, or furnished to, the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and Daqo New Energy undertakes no duty to update such information, except as required under applicable law.
Daqo New Energy Corp.
Kevin He, Investor Relations
SOURCE Daqo New Energy Corp.