euro adhoc: Solar-Fabrik AG
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Solar-Fabrik signs long term wafer contract
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Contracts
16.09.2008
Solar-Fabrik AG through its subsidiary Global Expertise Wafer Division Ltd announced today the signing of a $120.7 million USD wafer raw material contract with South Korean based Smart Applications Co. Ltd. The agreement starting in January 2009 will see the delivery of 156 mm monocrystalline wafers to the Solar-Fabrik Group over a period of 6 years.
The contract includes increasing volumes with a significant annual reduction of prices for the delivery of 156 mm monocrystalline wafers to the Solar-Fabrik Group. Solar-Fabrik estimates that the resulting turnover potential based on this contract will be around 16 million USD already in 2009. Furthermore Solar-Fabrik is still in negotiations with other suppliers to secure its long-term raw material supply. A wide supplier basis minimizes the risk of a lack in the raw material supply.
Smart Applications Co. Ltd., founded in 2002, is one of the leading manufacturers of solar wafers located in South Korea. Smart Applications has a strong background in the processing of higher quality wafers for the semiconductor industry and it is currently expanding its activities in the solar energy business. Smart Applications´ solar wafer capacity will reach 80 MW by the end of 2008 and further to 150 MW until 2010, backed up by its polysilicon supply contracts. The amicable termination of a polysilicon supply agreement of Solar-Fabrik recently (ad hoc announcement dated 4 September 2008) will be more than compensated already in 2009 by today´s signing.
With this new additional supply structure, Solar-Fabrik strengthens its long term processing capabilities of high quality solar cells and modules. Furthermore, the contract strengthens the long-term raw material supply. This is particularly important because Solar-Fabriks´ solar cell capacity will be working at full capacity already in 2009 due to increased demand.
end of announcement euro adhoc
Further inquiry note:
Martin Schlenk
Tel. +49(0)761 4000 207
E-Mail: m.schlenk@solar-fabrik.de
Branche: Alternative energy
ISIN: DE0006614712
WKN: 661471
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse München / free trade