XINYU CITY, China and SUNNYVALE, Calif., Jan. 17 /PRNewswire-FirstCall/
-- LDK Solar Co., Ltd. (NYSE: LDK), a leading manufacturer of
multicrystalline solar wafers, announced today that it has signed a
ten-year contract to supply multicrystalline solar wafers to rapidly
growing Taiwan-based Neo Solar Power Corp. (NSP).
Under the terms of the agreement, LDK will receive a cash deposit from
NSP and pricing will be fixed for the entire contract period. During this
period, LDK Solar will deliver approximately 500 MW multicrystalline solar
wafers to NSP with delivery commencing in 2009.
"We are very pleased to expand our partnership with NSP through this
additional wafer supply contract," stated Xiaofeng Peng, Chairman and CEO.
"As a key supplier to NSP, LDK Solar is proud to contribute to their
manufacturing of high-quality solar cells."
"We are excited to further develop our working relationship with LDK,"
commented Dr. Quincy Lin, Vice Chairman and CEO of NSP. "As NSP continues
to grow, establishing longer term silicon supply agreements is important to
the company, and we are pleased to work with LDK Solar, an industry
leader."
About LDK Solar
LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar
wafers, which are the principal raw material used to produce solar cells.
LDK 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. LDK's headquarters and manufacturing
facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi
province in the People's Republic of China. The company's office in the
United States is located in Sunnyvale, California.
About Neo Solar Power Corporation
Neo Solar Power (NSP) is a Taiwan based company specializing in
research, development, and manufacturing of high quality solar cells. NSP's
solar cells are known for high efficiency and low lamination power loss.
NSP's revenue in 2007 was US$110M. NSP's capacity is 90MW at this time and
will expand to 210MW by 3Q08. NSP is a member of Powerchip Group, Taiwan.
Key investors of NSP include Powerchip Semiconductor Company (largest DRAM
company in Taiwan with US$ 3B in revenue in 2006), leading venture capital
firms, and the management team. NSP's management team consists of
inter-disciplinary experts in high-tech management, semiconductors, silicon
materials, solar cell processing, and solar energy systems engineering.
Safe Harbor Statement for LDK
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than statements of historical fact
in this announcement are forward-looking statements, including but not
limited to, the Company's ability to raise additional capital to finance
the Company's activities; the effectiveness, profitability, and
marketability of its products; the future trading of the securities of the
Company; the ability of the Company to operate as a public company; the
period of time for which its current liquidity will enable the Company to
fund its operations; the Company's ability to protect its proprietary
information; general economic and business conditions; the volatility of
the Company's operating results and financial condition; the Company's
ability to attract or retain qualified senior management personnel and
research and development staff; and other risks detailed in the Company's
filings with the Securities and Exchange Commission. These forward-looking
statements involve known and unknown risks and uncertainties and are based
on current expectations, assumptions, estimates and projections about the
Company and the industry. These statements are based upon information
available to LDK's management as of the date hereof. Actual results may
differ materially from the anticipated results because of certain risks and
uncertainties, including, but not limited to, the failure by either party
to fulfill its obligations under such contract.
The Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances, or
changes in its expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these forward-looking
statements are reasonable, they cannot assure you that their expectations
will turn out to be correct, and investors are cautioned that actual
results may differ materially from the anticipated results.
SOURCE LDK Solar Co., Ltd.
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Related links:
http://www.ldksolar.com
CONTACT:
Jack Lai, Executive VP and CFO of LDK Solar
Co., Ltd., +1-408-245-8801, IR@ldksolar.com; or Lisa Laukkanen of
The Blueshirt Group, +1-415-217-4967, lisa@blueshirtgroup.com,
for LDK Solar Co., Ltd.
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