Hoku Materials (HOKU) Amends Supply Deal With Shanghai Alex New Energy

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11:24:48 am on January 4, 2010

Hoku Materials just announced that it has amended a polysilicon supply contract with Shanghai Alex New Energy. Under the amended agreement, polysilcon amounts and financial details will stay the same, but the due date for delivery of the first shipment will be moved from the first quarter of 2010 to the third quarter of 2010.

In a press release, Dustin Shindo, chairman and chief executive officer of Hoku Scientific, commented on the new agreement:

“This amendment adjusts the timing of our first delivery to Alex to a date that is amenable to both companies. Hoku was prepared to ship third-party product in accordance with our contract, but the updated schedule more closely matches Alex’s revised supply chain forecasts while still conforming nicely to our projected production ramp. We look forward to the commencement of our regular deliveries of polysilicon to Alex in 2010.”

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