Friday January 11, 01:50 PM
Solarfun Power signs long-term supply agreement with Wacker Schott
NEW YORK (Thomson Financial) - Solarfun Power Holdings Co. Friday said it had signed a long-term supply contract with Wacker Schott for 140 megawatt polysilicon.
Financial terms weren't disclosed. Solarfun said it expects the
deliveries to begin sometime this year.
The deal was made through Solarfun's Hong Kong subsidiary.
Solarfun also said it has reduced expectations for polysilicon supplies from Jiangsu Zhongneng PV Technology Development Co. to Yangguang Solar, its 52% subsidiary.
Yonghua Lu, the chairman of Solarfun, owns an 18% interest in Yangguang.
The reduced expectations, Solarfun said, came after Zhongneng delivered 27 tons of polysilicon to Yangguang in 2007, when it had agreed to deliver 50 tons.
Shares of Solarfun closed Thursday at $27.62.
Ryan Vlastelica
rv/pc
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