This document summarizes a presentation given by Stian Henriksen and Erik Løkke-Øwre on developing globally competitive production based on lean principles at REC. [1] It provides background on the speakers and their experience in lean manufacturing. [2] It then discusses the solar industry environment of overcapacity leading to price reductions, and REC's business case to become a cost leader and ensure high quality modules. [3] The presentation covers REC's implementation of a lean-based REC Business System (RBS) to standardize processes, ensure stable operations and continuous improvement.