LDK Solar Signs Supply Deal With Hyundai (LDK)

Today, LDK Solar announced that it has signed a 7-year contract to deliver approximately 440 MW of microcrystalline solar wafers Korean manufacturing company Hyundai Heavy Industries. The contract calls for the product to be delivered over 7 years, from  2009 to 2015. In exchange for agreeing to produce the wafers, LDK solar will receive a downpayment from Hyundai. Here is what the leadership of both companies had to say about the deal:

"We are pleased to have entered into an additional agreement with Hyundai Heavy Industries Co., Ltd. and build upon our partnership," stated Mr. Xiaofeng Peng, Chairman and CEO of LDK Solar. "We continue to support HHI as they expand their presence in the solar markets."

"As we continue to grow our solar business and meet the growing demand for our products in Korea and globally, we are excited to strengthen our long-term wafer supply pipeline by reaching this agreement to secure additional high-quality wafers from LDK Solar," commented Kwon-Tae Kim, HHI’s Executive Vice President

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