Saturday, August 30, 2008

Suntech to buy silicon wafers from GCL Silicon

SIOUX FALLS, S.D. - Chinese solar cell maker Suntech Power Holdings Co. Ltd. said Wednesday it has signed a five-year agreement to buy silicon wafers from GCL Silicon Technology Holdings Inc.

Under the agreement, GCL Silicon will supply Suntech with 9,420 metric tons of polysilicon and 1.1 gigawatts of silicon wafers from 2008 to 2012.

Financial terms were not disclosed.

"These agreements with GCL Silicon will greatly strengthen our silicon pipeline and support our capacity and production expansion over the next five years," Zhengrong Shi, Suntech's chairman and chief executive, said in a statement.

GCL Silicon is based in China's Jiangsu Province.

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