Hoku Materials (HOKU) Ends Supply Contracts

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07:48:17 am on September 5, 2008

Hoku Materials, a subsidiary of Hoku Scientific, Inc, announced today that it will terminate supply contracts with two of its customers, Sanyo Electric Co and Global Expertise Wafer Division Ltd, in a bid to reallocate resources to other customers.

Hoku Materials, Inc makes and sells polysilicon for solar power. Recently, Hoku announced polysilicon purchase contracts worth more than $1 billion with three different companies. Hoku Materials has entered into agreements with Kinko Energy, Tianwei New Energy, and Wealthy Rise International Ltd, and says that canceling the first two contracts will help it focus on meeting the needs of its new customers, since its Pocatello, Idaho plant was oversubscribed.

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