Wrong on three counts. TSL never had to raise $1bn in cash for the
plant, more than half the costs would have been covered by operating
cash flow and profits, the plant was always slated to come onstream in
2010 at the earliest. No financial damage from purchase orders, as
nothing was signed (read the press release carefully and you will
understand) and GT Solar remains a key equipment supplier to TSL. This
is a vote of confidence in the poly-silicon supply situation, scare
stories of supply-demand imbalances until 2010 are overdone.

Overall, prudent decision by the management, following their long-term
contract with GCL Silicon. Refocus of resources on core business
growth rather than backward integration into polysilicon production
will allow faster growth.