XINYU CITY, China and SUNNYVALE, Calif., Sept. 5 /PRNewswire-FirstCall/ --
LDK Solar Co., Ltd. ("LDK Solar") (NYSE: LDK), a leading manufacturer of solar
wafers, announced today that it has signed an eight-year contract with Japan-
based Sumitomo Corporation ("SC"), one of the leading trading and investment
houses in Japan to supply multicrystalline solar wafers to a leading
manufacturer of solar cells and modules in Japan.
Under terms of the agreement, LDK Solar will deliver approximately 750 MW
of multicrystalline silicon wafers to Sumitomo over an eight-year period,
commencing in 2009 and extending through 2016. Sumitomo will make an advanced
payment representing a portion of the contract value to LDK Solar.
"We are excited to announce this agreement with Sumitomo to supply high-
quality wafers to Japan's leading manufacturer of solar modules," Xiaofeng
Peng, Chairman and CEO of LDK Solar. "For LDK Solar, this supply contract
with another industry leader, signifies another step towards our goal of
becoming the leading supplier of wafers worldwide."
About LDK Solar (NYSE: LDK)
LDK Solar Co., Ltd. is a leading manufacturer of solar wafers, which are
the principal raw material used to produce solar cells. LDK Solar sells wafers
globally to manufacturers of photovoltaic products, including solar cells and
solar modules. In addition, LDK Solar provides wafer processing services to
solar cell and module manufacturers. LDK Solar's headquarters and
manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City,
Jiangxi Province in the People's Republic of China. Its office in the United
States is located in Sunnyvale, California.
About Sumitomo Corporation
Sumitomo Corporation engages in diverse business activities through its
worldwide network. These include various domestic and overseas transactions
and import and export of a wide range of goods and commodities, and also
providing a wide range of services and investing, in the fields of, such as
metals, transportation and construction systems, machinery and electricity,
media, electronics and network, chemicals, mineral resources and energy,
consumer goods and services, materials and real estate, and finance and
logistics.
Safe Harbor/Forward Looking Statements
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, LDK
Solar's ability to raise additional capital to finance its activities; the
effectiveness, profitability, and marketability of its products; the future
trading of its securities; the ability of LDK Solar to operate as a public
company; the period of time for which its current liquidity will enable LDK
Solar to fund its operations; its ability to protect its proprietary
information; general economic and business conditions; the volatility of its
operating results and financial condition; its ability to attract or retain
qualified senior management personnel and research and development staff; and
other risks detailed in LDK Solar'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 LDK Solar and the industry.
LDK Solar 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 LDK Solar 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.
