India, Dec. 11 -- German chemical group Wacker Chemie AG (WKCMY.PK,WKCMF.PK) on Thursday said it now expects a negative net result for 2019 of around 750 million euros, compared to previous guidance of slightly positive net income.
The Munich-based company said it intends to take an impairment of around 750 million euros in its fiscal 2019 on the carrying amount of its production facilities for hyperpure polysilicon. The write-down is due to the continued absence of a recovery in solar-grade polysilicon prices due to the high overcapacity created by Chinese manufacturers.
As earlier, the outlook excludes special income of 112.5 million euros in insurance compensation. WACKER's net result would exceed 100 million before the special effect ...