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MEMC Electronic Materials buying Solaicx

MEMC Electronic Materials Inc., based in O’Fallon, Mo., announced today it has reached agreement to acquire privately held Solaicx for at least $66 million.

Solaicx, which is headquartered in Santa Clara, Calif., is a maker of silicon ingots, which is used to make silicon wafers. MEMC said the California manufacturer has developed a continuous crystal growth manufacturing technology which yields low-cost, high-efficiency silicon wafers for the solar industry.

[St. Louis Post Dispatch]