LDK Solar Signs an Eight-Year Wafer Supply Agreement with Hyundai Heavy Industries Co., Ltd. - 500 Beiträge pro Seite

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LDK Solar Signs an Eight-Year Wafer Supply Agreement with Hyundai Heavy Industries Co., Ltd.
(PR Newswire 02.22 09:15:03)

XINYU CITY, China and SUNNYVALE, Calif., Feb. 22 /PRNewswire-FirstCall/ --
LDK Solar Co., Ltd. (NYSE: LDK), a leading manufacturer of multicrystalline
solar wafers, today announced that it has signed an eight-year \"Take or Pay\"
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 450 MW of
multicrystalline solar wafers to Hyundai Heavy Industries Co., Ltd. over an
eight-year period commencing in late 2008 through 2015. Hyundai Heavy
Industries Co., Ltd. will make an advanced payment representing a portion of
the contract value to LDK Solar.
\"This latest long-term wafer supply agreement with Hyundai Heavy
Industries Co., Ltd. further exemplifies the strong demand levels for our high
quality wafers,\" stated Xiaofeng Peng, Chairman and CEO. \"We are pleased to
continue expanding our strategic list of customers with Hyundai Heavy
Industries Co., Ltd\'s business.\"
\"Having visited LDK Solar\'s polysilicon plant in Xinyu City, China several
times, we are confident that both their wafers and new manufacturing
facilities will meet the highest industry standards,\" commented Kwon-Tae Kim,
HHI\'s Executive Vice President. \"We look forward to beginning a long-term
relationship with LDK Solar.\"
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 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 headquarters and the
most of facilities in Ulsan city, Korea.
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.
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.


Contact Information:
Lisa Laukkanen of The Blueshirt Group, [phone], [e-mail], for LDK Solar; or Jack Lai, Executive VP and CFO of LDK Solar Co., Ltd., [phone], [e-mail]

WebSite:
http://www.ldksolar.com

S.PN LDK CA.PN OIL.PN ENV.PN MAC.PN LIC.PN ASI.PN

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