LDK Solar (LDK) Signs “Take or Pay” Contract Agreement with Hyundai Heavy Industries Co., Ltd
February 22, 2008 LDK Solar, a leading manufacturer of multicrstaline solar wafers, located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People’s Republic of China with a United States office in Sunnyvale, California, signed an eight-year wafer supply agreement (Take or Pay) with Republic of Korea-based Hyundai Heavy Industries Co., Ltd (HHI). Through the period beginning late 2008 – 2015, under the terms of the agreement, LDK Solar will deliver 450 MW of multicrystalline solar wafers to Hyundai Heavy Industries Co., Ltd. HHI will make advanced payment representing a portion of the contract value to LDK Solar. Xiaofeng…