Tuesday, October 9, 2007

LDK Solar Inks New Wafer Supply Pact

Their polysilicon may be shit and their patents are probably worthless, but someone just bought $225 million of their stuff... don't you think they'd check out the quality?

That's not like buying a dime bag in Washington Square Park... more below.

SANTA BARBARA, Calif., Oct 08, 2007 (ASCRIBE NEWS via COMTEX) -- LDK Solar Co., a manufacturer of multicrystalline solar wafers, announced that it has signed a five-year contract to supply multicrystalline solar wafers to Taiwan-based Solartech Energy Corp.

Under the terms of the agreement, pricing is fixed for the first three years. During this period, LDK Solar will deliver multicrystalline solar wafers to Solartech valued at approximately US$224 million with initial delivery commencing in 2008.

"We are pleased to strengthen our long-standing partnership with Solartech, one of our first customers," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "We continue to selectively allocate our wafer supplies and to build our presence as a global leader in the solar industry."

"This agreement enables us to secure a significant amount of LDK Solar's high-quality wafers as we rapidly increase our production capacity. Solartech plans to double its capacity to 60 MW in November 2007 and to add 50 MW annually over the next two years to reach an annual production capacity of 160 MW in 2009," stated Charles C. Chang, President of Solartech. "We are excited to enter this multi-year supply contract and continue building on our strategic partnership with LDK Solar as we expand our business in the years to come."


BXhype said...

Bought some myself at the end of the day. Damn thing is already trading down this morning!

Dinosaur Trader said...

Well, let's just hope it's in reaction to what "Win" pointed out in my post about LDK yesterday... that some newsletter guy is telling his clients to sell.

Still, if it trades much lower I'll take the small loss. Don't want to be stuck with a complete bomb.