MEMC to SunEdison why the Change?
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June 6, 2013MEMC to SunEdison
MEMC – the world’s leader in silicon wafer manufacturing has now changed the company name to SunEdison. The shareholders approved of this change at the company’s annual meeting. SunEdison was a subsidiary of MEMC. US Polysilicon and Wafer Producer MEMC bought Sunedison which was one of the largest solar installers in 2008. Now MEMC is strongly expanding the system installation business not only in the US, but other parts of the world like India, Europe, Korea, Italy, Canada and other places. SunEdison is a global leader in delivering solar power with solar installations and manufacturing plants. It has close to 40 offices located throughout North America, Europe and Asia. The newly transformed company will continue to have its corporate headquarters in St. Peters, Missouri.
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will provide a broader marketplace appeal and a global Brand. Also the erstwhile SunEdison division emerged as a significant revenue generator holding strong potential for a long term development, in the last couple of years since its existence. All these compelled MEMC to change its name to SunEdison. MEMC has always worked towards adapting to the changing global solar industry. MEMC had the guts to transform completely from a pure manufacturing business into full-fledged project developers.
The company will continue providing its customers the best semiconductor and solar products and solutions available. The company also formed SunEdison Capital, a new division for financing the ownership of solar power plants.
“Changing our name to SunEdison is a major milestone as this represents another step toward creating an elite, global brand that builds on a more than 50 year tradition of innovation and growth that began under the MEMC name,” said Ahmad Chatila, President and CEO. “We strongly believe the SunEdison name provides us with broader marketplace appeal and scalability that will help us grow the company and build long-term brand equity as we look toward the next chapter.”
“Our broad product and service offerings, across two industries, gives us a solid platform for future growth and stability,” Chatila concluded. “Our heritage of innovation, combined with our diversified and synergistic business model, has created a powerful market position. Today, both business units are growing and providing customers with some of the best semiconductor and solar products and solutions available. We are committed to growing both the semiconductor and solar power businesses, and look forward to building on our strong legacies, now under the SunEdison name.”