XINYU CITY, China and SUNNYVALE, Calif., Aug. 29 /PRNewswire-FirstCall/ --
LDK Solar Co., Ltd. (NYSE: LDK), a leading manufacturer of multicrystalline
solar wafers, announced today that it has signed a contract to supply
multicrystalline solar wafers to Taiwan-based Neo Solar Power Corp. (NSP).
Under terms of the agreement, LDK Solar will deliver multicrystalline
solar wafers to NSP valued at approximately US$495 million through the end of
"We are pleased to announce this significant wafer supply contract with
NSP," stated Xiaofeng Peng, Chairman and CEO. "As we continue to
strategically select new customers for the allocation of our growing wafer
capacity, we are particularly excited to develop a relationship with NSP, a
quality-oriented player in the solar industry."
"We are pleased to select LDK, a reputable company, as one of our key
suppliers. This agreement is the beginning of a long term relationship between
LDK and Neo Solar Power," says Dr. Frank Huang, Chairman of NSP, who is also
the Chairman of Powerchip Semiconductor Company.
"This wafer supply agreement further strengthens our silicon supply chain
for the production of high quality solar cells," commented Dr. Quincy Lin,
Vice Chairman and CEO of NSP. "We view this partnership with LDK as a great
opportunity to strengthen our competitive position in the marketplace."
About LDK Solar
LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar
wafers, which are the principal raw material used to produce solar cells. LDK
sells multicrystalline wafers globally to manufacturers of photovoltaic
products, including solar cells and solar modules. In addition, the company
provides wafer processing services to monocrystalline and multicrystalline
solar cell and module manufacturers. LDK's headquarters and manufacturing
facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi
province in the People's Republic of China. The company's office in the United
States is located in Sunnyvale, California.
Neo Solar Power (NSP) is a Taiwan based company specializing in research,
development, and manufacturing of high quality solar cells. NSP's solar cells
are known for high efficiency and low lamination power loss. NSP is a member
of Powerchip Group, Taiwan. Key investors of NSP include Powerchip
Semiconductor Company (largest DRAM company in Taiwan with US$ 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
Safe Harbor Statement
This press release includes statements that may constitute forward-looking
statements made pursuant to the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Although LDK believes that the
expectations reflected in such forward-looking statements are based on
reasonable assumptions, such statements are subject to risk and uncertainties
that could cause actual results to differ materially from those projected.
SOURCE LDK Solar Co., Ltd.
Lisa Laukkanen of The Blueshirt Group for LDK Solar, firstname.lastname@example.org,
+1-415-217-4967; or Jack Lai, Executive VP and CFO of LDK Solar Co., Ltd.,
IR@ldksolar.com, +1-408-245-8801; or Gary Yang, VP, Finance and Administration
of Neo Solar Power Corp., IR@neosolarpower.com, 886-3-598-0126 x1089
-0- Aug/29/2007 7:15 GMT
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