LDK Solar Inks Seven-Year Wafer Supply Agreement With Hyundai Heavy Industries
(Nanowerk News) LDK Solar Co., Ltd, a leading manufacturer of
solar wafers, today announced that it has signed a seven-year contract to
supply multicrystalline solar wafers to Republic of Korea-based Hyundai Heavy
Industries Co., Ltd (HHI).
Under the terms of the agreement, LDK Solar will deliver approximately 440
MW of multicrystalline silicon solar wafers to Hyundai Heavy Industries Co.,
Ltd over a seven-year period, commencing in 2009 and extending through 2015.
Hyundai Heavy Industries Co., Ltd will make a down payment representing a
portion of the contract value to LDK Solar.
"We are pleased to have entered into an additional agreement with Hyundai
Heavy Industries Co., Ltd. and build upon our partnership," stated Mr.
Xiaofeng Peng, Chairman and CEO of LDK Solar. "We continue to support HHI as
they expand their presence in the solar markets."
"As we continue to grow our solar business and meet the growing demand for
our products in Korea and globally, we are excited to strengthen our long-term
wafer supply pipeline by reaching this agreement to secure additional
high-quality wafers from LDK Solar," commented Kwon-Tae Kim, HHI's Executive
Vice President.
About LDK Solar (NYSE: LDK)
LDK Solar Co., Ltd. is a leading manufacturer of solar wafers, which are
the principal raw material used to produce solar cells. LDK Solar sells wafers
globally to manufacturers of photovoltaic products, including solar cells and
solar modules. In addition, LDK Solar provides wafer processing services to
solar cell and module manufacturers. LDK Solar's headquarters and
manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City,
Jiangxi Province in the People's Republic of China. Its office in the United
States is located in Sunnyvale, California.
About Hyundai Heavy Industries Co., Ltd.
Hyundai Heavy Industries (HHI) is an integrated heavy industries company
with six divisions such as shipbuilding and electro electric systems, and
combines all of HHI's interests in renewable energies like solar, wind,
electric vehicles for low carbon transport, combined gas-fired power
generation, and distributed energy for emerging markets. HHI's solar business
office and factory are located in Eumseong, Korea, and its headquarters and
most of the facilities in Ulsan city, Korea.
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