with Sunways AG
XINYU CITY, China and SUNNYVALE, Calif., Sept. 24 /PRNewswire-FirstCall/
-- LDK Solar Co., Ltd. (NYSE: LDK), a leading manufacturer of multicrystalline
solar wafers, announced today that it has signed contracts to supply
multicrystalline solar wafers and to purchase polysilicon production equipment
from Sunways AG.
Under the terms of the wafer supply contract, LDK Solar will deliver
approximately 1 GW of multicrystalline solar wafers to Sunways over a ten-year
period starting in 2008. Under the terms of the equipment purchase agreement,
LDK Solar will purchase two readily available Siemens technology-based
reactors and related plant equipment from Sunways. In addition, Sunways AG
will provide support services to LDK Solar during the facility construction
and the ramp up of polysilicon production.
"The equipment purchase agreement with Sunways AG further bolsters our
confidence in LDK Solar's ability to meet the goal of ramping polysilicon
production in 2008," commented Xiaofeng Peng, Chairman and CEO. "We are
pleased to continue to build our infrastructure by securing readily available
polysilicon reactors from Sunways to serve as an additional training resource
for our engineers and operators as we ready our facilities for polysilicon
production of our previously announced 15,000 ton polysilicon plant. With this
new additional project, we expect to raise our polysilicon capacity to 7,000
tons by the end of 2008 and 16,000 tons by the end of 2009"
"Securing solar wafer supplies is an imperative component to the
successful growth of our company," stated Roland Burkhardt, CEO of Sunways.
"We are excited to enter this agreement with LDK Solar, a leading supplier of
high quality solar wafers."
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 Sunways AG
Sunways AG is one of the leading photovoltaics companies in Germany in
terms of technology and quality. Its core competence is the development and
production of solutions and products for the generation of electricity from
solar energy, such as solar cells, inverters, solar modules and systems. The
company has been quoted on the stock exchange since 2001, and since 2003 in
the Prime Standard. In the fiscal year 2006, the consolidated sales of Sunways
AG rose by 67 percent to 152.3 million Euro. Consolidated EBIT amounted to 1.0
million Euro, consolidated net income to approx. 1.7 million Euro.
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, +1-415-217-4967,
firstname.lastname@example.org, for LDK Solar; or Jack Lai, Executive VP and CFO of
LDK Solar Co., Ltd., +1-408-245-8801, IR@ldksolar.com; or Investors & Public
Relations, Astrid Forst of Sunways AG, email@example.com, +49 7531 99677480
-0- Sep/24/2007 8:45 GMT
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