February 22, 2008 LDK Solar, a leading manufacturer of multicrstaline solar wafers, located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People’s Republic of China with a United States office in Sunnyvale, California, signed an eight-year wafer supply agreement (Take or Pay) with Republic of Korea-based Hyundai Heavy Industries Co., Ltd (HHI).
Through the period beginning late 2008 – 2015, under the terms of the agreement, LDK Solar will deliver 450 MW of multicrystalline solar wafers to Hyundai Heavy Industries Co., Ltd. HHI will make advanced payment representing a portion of the contract value to LDK Solar.
Xiaofeng Peng, Chairman and CEO said, “This latest long-term wafer supply agreement with Hyundai Heavy Industries Co., Ltd. Further exemplifies the strong demand levels for our high quality waters. We are pleased to continue expanding our strategic list of customers with Hyundai Heavy Industries Co., Ltd’s business.”
Kwon-Tae Kim, Executive Vice Pesident of Hyundai Heavy Industries Co., Ltd said, “Having visited LDK Solar’s polysilcon plant in Xinyu City, China several times, we are confident that both their wafers and new manufacturing facilities will meet the highest industry standards. We look forward to beginning a long-term relationship with LDK Solar.”
LDK Solar sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the company provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers.
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