Ferroglobe Secures Long-Term Silicon Supply Deal with LONGi

TL;DR

**Ferroglobe just locked in a major long-term silicon supply deal with LONGi, signaling stable future business.**

AI Summary

Ferroglobe PLC filed a 6-K on February 20, 2024, announcing a long-term silicon supply agreement with LONGi. This agreement, detailed in a press release dated February 20, 2024, signifies a strategic partnership for Ferroglobe, a foreign private issuer based in London, United Kingdom.

Why It Matters

This agreement ensures a stable supply of silicon for LONGi, a key player in the solar industry, and provides Ferroglobe with a significant, long-term revenue stream.

Risk Assessment

Risk Level: low — The filing announces a supply agreement, which generally reduces business uncertainty and provides a stable revenue outlook.

Key Players & Entities

• Ferroglobe PLC (company) — Registrant and supplier
• LONGi (company) — Customer in silicon supply agreement
• February 20, 2024 (date) — Date of filing and press release
• 001-37668 (other) — Commission File Number

FAQ

Filing Documents

• tmb-20240220x6k.htm (6-K) — 30KB
• 0001558370-24-001371.txt ( ) — 31KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: February 20, 2024 FERROGLOBE PLC by /s/ Marco Levi Name: Marco Levi Title: Chief Executive Officer (Principal Executive Officer) Ferroglobe and LONGi Announce Long-term Silicon Supply Agreement LONDON, February 20, 2024 (GLOBE NEWSWIRE) – Ferroglobe PLC (NASDAQ: GSM) ("Ferroglobe", the "Company," or the "Parent"), a leading global producer of silicon metal, silicon-based and manganese-based ferroalloys, and LONGi, the world's leading solar technology company, are pleased to announce that they have entered into a long-term supply agreement effective January 1, 2024. This agreement reinforces the partnership between the two companies and paves the way for even closer collaboration in the future. Under the terms of the three-year agreement, Ferroglobe will supply high-quality quartz and silicon to LONGi to support its strategy to increase purchases from the leading Western suppliers of silicon materials. This strategic partnership reflects the two companies shared commitment in their respective fields to operational excellence and traceability ranging from quartz to solar panels. LONGi is committed to being the world's leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation and under its mission of making the best of solar energy to build a green world. www.longi.com About Ferroglobe Ferroglobe is a leading global producer of silicon metal, silicon-based and manganese-based ferroalloys serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. The Company is based in London. For more information, visit https://investor.ferroglobe.com.

Forward-Looking Statements

Forward-Looking Statements This release contains "forward-looking statements" within the meaning of U.S. securities laws. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe the Company's future plans, strategies and expectations. Forward-looking statements often use forward-looking terminology, including words such as "anticipate", "believe", "could", "estimate", "expect", "forecast", "guidance", "intends", "likely", "may", "plan", "potential", "predicts", "seek", "target", "will" and words of similar meaning or the negative thereof. Forward-looking statements contained in this press release are based on information currently available to the Company and assumptions that management believe to be reasonable, but are inherently uncertain. As a result, Ferroglobe's actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control. Forward-looking financial information and other metrics presented herein represent the Company's goals and are not intended as guidance or projections for the periods referenced herein or any future periods. All information in this press release is as of the date of its release. Ferroglobe does not undertake any obligation to update publicly any of the forward-looking statements contained herein to reflect new information, events or circumstances arising after the date of this press release. You should not place undue reliance on any forward-looking statements, which are made only as of the date of this press release. INVESTOR CONTACT: Alex Rotonen, CFA Vice President, Investor Relations Email: investor.relations@ferroglobe.com MEDIA CONTACT: Cristina Feliu Roig Executive Director, Communications & Public Affairs Email: co

View Full Filing

View this 6-K filing on SEC EDGAR