BOSTON (Thomson Financial) - Suntech Power Holdings Co. Ltd. Monday said it
signed an eight-year polysilicon supply agreement with DC Chemical Co. Ltd.,
valued at $631 million.
Under the terms of the agreement, DC Chemical will supply Suntech specified
annual volumes of polysilicon from 2009 to 2016.
"Partnering with DC Chemical for high quality polysilicon will help to
expand Suntech's relationship with companies in the South Korean solar industry
as well as building our long-term supply pipeline and accelerating our path to
grid parity solar," Suntech said.
Shares of Suntech, a China-based provider of photovoltaic cells and modules,
closed Thursday at $30.70.
Casey Logan
cl/pc
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|