Monday, April 21, 2008

JA Solar signs supply agreement with GCL Silicon Technology

JA Solar to receive silicon wafers from GCL Silicon Technology under long-term deal
April 21, 2008: 08:40 AM EST

NEW YORK (Associated Press) - JA Solar Holdings Co. said Monday that Jiangsu Zhongneng Polysilicon Technology Development Co., a unit of GCL Silicon Technology Holdings Ltd., has agreed to supply the Chinese solar cell maker with silicon wafers under a long-term deal.
Financial terms were not disclosed.

Under the agreement, GCL Silicon Technology will supply about 6,000 megawatts of silicon wafers to JA Solar through December 2015 at predetermined prices.

JA Solar said delivery of the wafers began this month.

"This agreement is an important part of our growth strategy, as we further strengthen and diversify our supply position to support JA Solar's rapid growth and increased customer demand," said JA Solar Chief Executive Samuel Yang in a statement.

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