Comtec Solar 2011 Orders Exceed 600MW
Equivalent to Full Capacity of the Group by End of 2010 via Continuous Wafer Supply Deals
HONG KONG, Sept. 8 /PRNewswire-Asia/ --
-- Signs new supply framework agreements for approximately 200MW
-- Already filled up total of 650MW production capacity for 2011
Comtec Solar Systems Group Limited ("Comtec" or the "Company", together with its subsidiaries the "Group", HKEx stock code: 712) a PRC-based leading manufacturer of monocrystalline solar wafers, is pleased to announce the Group has signed new wafer supply framework agreements with price subject to negotiation to provide major customers Gintech Energy Corporation ("Gintech"), Jetion Solar Holdings Limited ("Jetion"), CHINT Group Corporation ("Chint") and Neosolar Power Corporation ("Neosolar") with a total of approximately 200MW in monocrystalline solar wafers.
Under the terms of the contracts, Comtec will supply each of the GinTech, Jetion, Chint and Neosolar with approximately 50MW of monocrystalline wafers from January 2011 to December 2011.
Wafer Supply Deals: 2011
Company (approximate amounts)
China Sunergy Co. Ltd. 100 MW
JA Solar Holdings Co. Ltd. 150 MW
Suntech Power Holdings Co. Ltd. 150 MW
Canadian Solar Inc. 50 MW
Gintech Energy Corporation 50 MW
Jetion Solar Holdings Ltd. 50 MW
CHINT Group Corporation 50 MW
Neosolar Power Corporation 50 MW
Total: 650 MW
"I am pleased that, with the strong demand from our major customers, the committed orders for 2011 already exceed 600MW which is expected full capacity by end of 2010. At the moment, we still cannot fulfill all the demand from our customers and they keep requesting additional commitments for the shipment in 2011. This gives us strong confidence that we can fill up additional capacity when we ramp up to 1000MW before the end of 2011. Meanwhile, one of our major tasks is to push up the progress of our additional 400MW expansion plan for 1GW capacity next year," said Mr. John Zhang, Chairman and CEO of Comtec Solar.
Zhang continued, "With the market trend of increasing demand for monocrystalline wafers, customers are becoming more quality conscious than before. Therefore, we will maintain our focus on product quality and technology improvement. We are positive that we can leverage on the strong market demand to secure more contracts in the coming months!"
About Comtec Solar Systems Group Limited
Comtec Solar is a leading monocrystalline solar ingots and wafers manufacturer in the PRC. With its production base in Shanghai, the PRC, it focuses on the design, development, manufacturing and marketing of high-quality solar wafers. Comtec Solar, founded in 1999, is one of the first manufacturers in China to be able to mass produce 156mm x 156mm monocrystalline solar wafers with a thickness of approximately 170 microns. It has accumulated strong industry background from the manufacture of semiconductor ingots and wafers since 1999. Comtec Solar currently supplies most of its solar products to the leading solar cell/module manufacturers. Listed on Main Board of The SEHK on Oct. 30, 2009, it is committed to enhancing product quality as well as developing new and innovative solar wafers. As it is well positioned to benefit from the growth of the solar PV industry, the Company aimed to broaden its customer base internationally. For more information please visit http://www.comtecsolar.com .
Contact Information:
Aries Consulting Ltd.
Mr Kent Lo/ Mr Terence Wong/ Mr Mark Lee
Investor Relations Consultant
Tel: +852-2610-0846
Fax: +852-2610-0842
Email: [email protected]
Comtec Solar Systems Group Limited
Mr. Keith Chau
CFO
Tel: +86-21-6804-3001
Email: [email protected]
Website: http://www.comtecsolar.com
SOURCE Comtec Solar Systems Group Limited
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