LDK Solar Signs Wafer Sales and Equipment Purchase Agreements with Sunways AG
Xinyu City, China and Sunnyvale, CA, September 24, 2007
Source: LDK Solar Co. Ltd, press release
http://www.ldksolar.com/Company%20news.html
LDK Solar Co., Ltd. (NYSE:LDK), a leading manufacturer of multicrystalline solar wafers, announced today that it has signed contracts to supply multicrystalline solar wafers and to purchase polysilicon production equipment from Sunways AG. Under the terms of the wafer supply contract, LDK Solar will deliver approximately 1 GW of multicrystalline solar wafers to Sunways over a ten-year period starting in 2008. Under the terms of the equipment purchase agreement, LDK Solar will purchase two readily available Siemens technology-based reactors and related plant equipment from Sunways. In addition, Sunways AG will provide support services to LDK Solar during the facility construction and the ramp up of polysilicon production.
“The equipment purchase agreement with Sunways AG further bolsters our confidence in LDK Solar’s ability to meet the goal of ramping polysilicon production in 2008,” commented Xiaofeng Peng, Chairman and CEO. “We are pleased to continue to build our infrastructure by securing readily available polysilicon reactors from Sunways to serve as an additional training resource for our engineers and operators as we ready our facilities for polysilicon production of our previously announced 15,000 ton polysilicon plant.With this new additional project, we expect to raise our polysilicon capacity to 7,000 tons by the end of 2008 and 16,000 tons by the end of 2009”
“Securing solar wafer supplies is an imperative component to the successful growth of our company,” stated Roland Burkhardt, CEO of Sunways. “We are excited to enter this agreement with LDK Solar, a leading supplier of high quality solar wafers.”