Company Profile
MEMC Electronic Materials, Inc.
Company Overview
MEMC, based in St. Peters, Missouri, is a global leader in the manufacture and sale of wafers and related products to the semiconductor and solar industries. MEMC’s products are the building blocks for the $1 trillion electronics and the $35 billion solar cell and module markets. Through its SunEdison subsidiary, MEMC is also a developer of solar power projects and is a leading solar energy services provider. MEMC, which was founded in 1959, employs approximately 5,600 people worldwide and recorded sales of $2.2 billion in 2010. MEMC’s stock is traded on the New York Stock Exchange under the symbol WFR and is included in the S&P 500 Index.
MEMC operates three business units: Semiconductor Materials, Solar Materials and Solar Energy.
Company History
1959
Monsanto Electronic Materials Company (MEMC) formed
1962
CZ silicon crystal process developed
1965 MEMC develops polishing process for silicon wafers
1966 First epi reactors installed at MEMC
1966 Scientists at MEMC begin developing zero-dislocation crystal
1975 First commercial production of 100mm wafers
1982
MEMC pioneers epi wafers for CMOS applications
1984
Commercialized 200mm wafers
1989 MEMC acquired by E.ON affiliate
1991 300mm wafers developed
1995 MEMC Initial Public Offering on the NYSE
1998 MEMC develops agglomerated defect free ‘Perfect Silicon’
1999 Advanced generation 200mm DSP wafers developed
2000 MEMC introduces defect-free engineered products ‘MDZ™’ & ‘Optia™’
2002 Significant 300mm expansion
2003 Expanded New Materials R&D group and introduced next generation 300mm ‘Perfect Silicon’
2004 Crossed over $1B revenue mark; acquired Taisil
2005 First 300mm production in Taiwan
2006 Announced entry into solar wafer market on a large scale
2007 MEMC added to S&P 500; began wafer deliveries to solar customers
2008 Crossed over $2B revenue mark; crossed $1B to solar market
2009 MEMC celebrates 50 year anniversary; acquires leading solar project developer, SunEdison
2010 Broadened product offering into fast-growing monocrystalline solar market with acquisition of Solaicx
Notable Accomplishments / Recognition
POSITIONED TO LEAD
Wafer Market Leader
Integrated polysilicon, semiconductor wafer and solar wafer provider
Established and growing customer relationships in over 30 countries around the world
Technology Leadership
Extensive intellectual property portfolio with more than 770 worldwide patents and 430 applications on file
First large-volume manufacturer of Fluidized Bed or “granular” polysilicon
Operational Expertise
Competitive cost structure with further improvements targeted
Global manufacturing, sales and service footprint makes MEMC a “local” supplier to our customers
Diversified Markets
One of only four major suppliers of semiconductor wafers and a proven supplier to the solar industry
Balanced market position provides stability and growth
New Opportunities
Acquired in 2009, SunEdison’s downstream leadership in solar project development accelerates growth
Acquired in 2010, Solaicx’s proprietary process and equipment provides entry into fast-growing, adjacent monocrystalline solar market
Benefits
US benefits include:
Compensation Stock Options
Employees may be eligible for stock options at the time of hire, upon promotions or periodically based on their performance. Stock options have a holding period of 10 years.
Yearly Incentive Program
Employees may be eligible to receive bonus payments on a yearly basis. Bonus targets are set and determined based on the performance results for that year.
Retirement Savings Plan
The RSP is a 401(k) savings plan that provides employees with the opportunity to save for their retirement. MEMC will contribute 2 percent of pay into your account, even if you don't contribute. If you do contribute to the plan, the Company will also match 100% of the first 3 percent that you contribute to the plan, 50 percent of the next 2 percent and 20 percent of the next 1 percent for a total of 4.2 percent on 6 percent employee contribution. There is no vesting period, this means that the Company match and non-match contributions are automatically yours to keep. You may manage your funds on-line through Putnam Investments.
Income Protection Plans
Short-term (ST) and Long-term (LT) income protection is offered for employees who may be hospitalized or disabled and unable to work. For qualified disabilities, 75 percent of base pay will be paid for a maximum of six months, after which an employee may be eligible for long-term benefits which are paid at 60 percent of base pay. Eligibility for ST disability is after six months of continuous employment and for LT disabilty after one year of continuous employment.