Rec Silicon has for several years been affected by the trade war on solenergiprodukter between the united STATES and China, which prevents solarselskapets access to the chinese market.
After the Trump-victory in the presidential election can a solution be even further away.
Rec is affected in two ways. One is through the lower probability solution of the handelskrigen, with a background in Trumps statements about trading, and especially against China, ” says analyst Andreas Bertheussen in Swedbank to E24.
In addition, statements about investment in renewable sources. Clinton, in contrast, views on the increased development of the sol in the united STATES. It is perhaps as much a disappointment that it is not materializing as the fear of less investment, he continues.
Rec Silicon’s fears Trump prevents sunrise
Threatened with straffetoll
America’s upcoming president has threatened that he will impose straffetoll on imports from China, which has given the fear of a trade war between the united STATES and China. While Trump has denied climate change, Clinton supported a transition away from fossil fuels and to renewable energy.
Our views on the handelskrigen has been that it is a bonus if it can be resolved. It is not a prerequisite for our Rec-appreciation that there is a solution. It does not affect our view on the stock especially much, says Bertheussen, who has a neutral recommendation on Rec.
On the Oslo stock Exchange was the Rec one of the weaker shares on Wednesday, with a fall of almost six per cent.
– It is not surprising that the stock is down on this news, believes the analyst.
Pending
the main shareholder and chairman of the board Jens Ulltveit-Moe in the Rec is pending.
– the Rec is in the paradoxical situation that we have been hit by the trade war in a couple of years now. Then we’ll see if Trump conducts its election promises, ” he says.
For us, there is less difference than there is for most others. We’ve had to go in markets outside China, moreover, we have cut costs dramatically. Others may need to take the same bitter medicine if Trump is living up to its election promises. We have felt handelskrigen on the body a couple of years now, he continues.
Rec-chairman of the board of Trump as president: – Will be a disaster
Caught in the middle
the Chinese government introduced in the summer of 2013 a customs duty rate of 57 per cent of silicon.
This was a response to the introduction of the american straffetoll on chinese solar panels the year before, which followed allegations of dumping of chinese products in the us market.
Rec, as has production in the U.S. and customers in China, are caught in the middle, and in practice banned from the chinese market.
At the last crossroads, as the results for the third quarter was delivered, took the Rec impairment of 79 million dollars, partly with a background in handelskrigen about the solar charger.
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