Neo Solar Power
XINYU CITY, China and SUNNYVALE, Calif., Jan. 17 /PRNewswire-FirstCall/ --
LDK Solar Co., Ltd. (NYSE: LDK), a leading manufacturer of multicrystalline
solar wafers, announced today that it has signed a ten-year contract to supply
multicrystalline solar wafers to rapidly growing Taiwan-based Neo Solar Power
Under the terms of the agreement, LDK will receive a cash deposit from NSP
and pricing will be fixed for the entire contract period. During this period,
LDK Solar will deliver approximately 500 MW multicrystalline solar wafers to
NSP with delivery commencing in 2009.
"We are very pleased to expand our partnership with NSP through this
additional wafer supply contract," stated Xiaofeng Peng, Chairman and CEO.
"As a key supplier to NSP, LDK Solar is proud to contribute to their
manufacturing of high-quality solar cells."
"We are excited to further develop our working relationship with LDK,"
commented Dr. Quincy Lin, Vice Chairman and CEO of NSP. "As NSP continues to
grow, establishing longer term silicon supply agreements is important to the
company, and we are pleased to work with LDK Solar, an industry leader."
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 Neo Solar Power Corporation
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's revenue in
2007 was US$110M. NSP's capacity is 90MW at this time and will expand to 210MW
by 3Q08. NSP is a member of Powerchip Group, Taiwan. Key investors of NSP
include Powerchip Semiconductor Company (largest DRAM company in Taiwan with
US$ 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 systems engineering.
Safe Harbor Statement for LDK
This announcement contains forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical fact in this
announcement are forward-looking statements, including but not limited to, the
Company's ability to raise additional capital to finance the Company's
activities; the effectiveness, profitability, and marketability of its
products; the future trading of the securities of the Company; the ability of
the Company to operate as a public company; the period of time for which its
current liquidity will enable the Company to fund its operations; the
Company's ability to protect its proprietary information; general economic and
business conditions; the volatility of the Company's operating results and
financial condition; the Company's ability to attract or retain qualified
senior management personnel and research and development staff; and other
risks detailed in the Company's filings with the Securities and Exchange
Commission. These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations, assumptions,
estimates and projections about the Company and the industry. These statements
are based upon information available to LDK's management as of the date
hereof. Actual results may differ materially from the anticipated results
because of certain risks and uncertainties, including, but not limited to, the
failure by either party to fulfill its obligations under such contract.
The Company undertakes no obligation to update forward-looking statements
to reflect subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the Company believes
that the expectations expressed in these forward-looking statements are
reasonable, they cannot assure you that their expectations will turn out to be
correct, and investors are cautioned that actual results may differ materially
from the anticipated results.
SOURCE LDK Solar Co., Ltd.
Jack Lai, Executive VP and CFO of LDK Solar Co., Ltd., +1-408-245-8801,
IR@ldksolar.com; or Lisa Laukkanen of The Blueshirt Group, +1-415-217-4967,
email@example.com, for LDK Solar Co., Ltd.
-0- Jan/17/2008 18:16 GMT
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