September 12, 2008: 10:22 AM EST
NEW YORK (Associated Press) - LDK Solar Co. Ltd. said Friday it has signed an 11-year agreement with Q-Cells AG of Germany to process solar-grade silicon into wafers.
LDK, based in Xinyu City, China, said it will process at least 20,000 metric tons of solar grade silicon provided by Q-Cells between 2008 and 2018 with an option to process an additional 21,000 metric tons in the same decade.
The agreement is part of a memorandum of understanding that calls for LDK Solar to supply the German company with up to five gigawatts of multicrystalline solar wafers between 2009 and 2018.
LDK manufactures and sells multicrystaline solar wafers, the main raw materials used to produce solar cells. Q-Cells AG of Bitterfeld-Wolfen is a leading manufacturer of solar cells.
Showing posts with label LDK. Show all posts
Showing posts with label LDK. Show all posts
Sunday, September 14, 2008
Monday, December 17, 2007
LDK Solar says completed independent audit investigation; finds no errors
December 17, 2007: 04:21 AM EST
XINYU CITY, China, Dec. 17, 2007 (Thomson Financial delivered by Newstex) -- LDK Solar Co Ltd (NYSE:LDK) said its audit committee has completed an independent investigation into allegations made by a former employee that it incorrectly reported its inventories of silicon feedstock, as evidenced by an alleged discrepancy in its inventory on Aug 31.
LDK said the investigation found no material errors in its stated silicon inventory quantities, and concluded the allegations of an inventory discrepancy were incorrect as they had not taken into account all locations in which the company stored its silicon feedstock.
The investigation further concluded that LDK is using each of its various types of silicon feedstock in the production of its multicrystalline solar wafers, and that a provision for obsolete or excess silicon feedstock is not required, the company said.
LDK also noted it expects to release its financial results for its third fiscal quarter 2007 following the NYSE market close on Wednesday, Dec 19.
XINYU CITY, China, Dec. 17, 2007 (Thomson Financial delivered by Newstex) -- LDK Solar Co Ltd (NYSE:LDK) said its audit committee has completed an independent investigation into allegations made by a former employee that it incorrectly reported its inventories of silicon feedstock, as evidenced by an alleged discrepancy in its inventory on Aug 31.
LDK said the investigation found no material errors in its stated silicon inventory quantities, and concluded the allegations of an inventory discrepancy were incorrect as they had not taken into account all locations in which the company stored its silicon feedstock.
The investigation further concluded that LDK is using each of its various types of silicon feedstock in the production of its multicrystalline solar wafers, and that a provision for obsolete or excess silicon feedstock is not required, the company said.
LDK also noted it expects to release its financial results for its third fiscal quarter 2007 following the NYSE market close on Wednesday, Dec 19.
Friday, September 7, 2007
LDK Solar Secures EPCM Services for Construction of Polysilicon Manufacturing Facilities in Xinyu City, PRC
September 07, 2007: 03:15 AM EST
XINYU CITY, China and SUNNYVALE, Calif., Sept. 7 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. , a leading manufacturer of multicrystalline solar wafers, today announced that it has signed an agreement with Fluor Corporation to provide general engineering, procurement, construction management (EPCM) services for LDK's polysilicon manufacturing plant at its Xinyu, Jiangxi headquarters. The total contract is in excess of $1 billion.
This signed agreement is in line with the company's publicly announced plans to complete construction and reach a production capacity of up to 6,000 metric tons of polysilicon by the end of 2008 and 15,000 metric tons by the end of 2009. The company has also indicated that it plans to commence volume production by the end of 2008.
"We are pleased that Fluor will work with us to achieve high-quality construction management standards during this significant endeavor. Our partnership with a reputable EPCM service provider reiterates our commitment to remaining on schedule and within budget in establishing its polysilicon production plant," said Mr. Xiaofeng Peng, Chairman and Chief Executive Officer. "Speed of execution will be a key to this agreement, and there will be an incentive to Fluor if this project is performed ahead of schedule and below budget. This latest agreement once again demonstrates execution of our strategy as we align our resources to facilitate our capacity expansion plans."
About LDK Solar
LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the company provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People's Republic of China. The company's office in the United States is located in Sunnyvale, California.
About Fluor
Fluor Corporation provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $14.1 billion in 2006. For more information visit http://www.fluor.com.
XINYU CITY, China and SUNNYVALE, Calif., Sept. 7 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. , a leading manufacturer of multicrystalline solar wafers, today announced that it has signed an agreement with Fluor Corporation to provide general engineering, procurement, construction management (EPCM) services for LDK's polysilicon manufacturing plant at its Xinyu, Jiangxi headquarters. The total contract is in excess of $1 billion.
This signed agreement is in line with the company's publicly announced plans to complete construction and reach a production capacity of up to 6,000 metric tons of polysilicon by the end of 2008 and 15,000 metric tons by the end of 2009. The company has also indicated that it plans to commence volume production by the end of 2008.
"We are pleased that Fluor will work with us to achieve high-quality construction management standards during this significant endeavor. Our partnership with a reputable EPCM service provider reiterates our commitment to remaining on schedule and within budget in establishing its polysilicon production plant," said Mr. Xiaofeng Peng, Chairman and Chief Executive Officer. "Speed of execution will be a key to this agreement, and there will be an incentive to Fluor if this project is performed ahead of schedule and below budget. This latest agreement once again demonstrates execution of our strategy as we align our resources to facilitate our capacity expansion plans."
About LDK Solar
LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the company provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People's Republic of China. The company's office in the United States is located in Sunnyvale, California.
About Fluor
Fluor Corporation provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $14.1 billion in 2006. For more information visit http://www.fluor.com.
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