XINYU CITY, China and SUNNYVALE, Calif., July 8 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. ("LDK Solar";NYSE: LDK), a leading manufacturer of solar wafers and PV products, announced today that it has signed a contract to supply solar modules to the Power Systems division of Italy-based ABB SpA ("ABB"), a subsidiary of ABB Group. Under the terms of the agreement, LDK Solar will deliver 13 megawatts (MW) of solar modules to ABB in the third quarter of 2010. A wider cooperation agreement is under negotiation to supply ABB with larger volumes of solar modules in the remainder of 2010 and 2011.
"We are very excited to commence a relationship with ABB Group. This relationship will allow LDK Solar to take advantage of the wealth of solar opportunities that ABB has developed in Europe," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "This sales contract with ABB demonstrates our continued momentum in growing our module business, specifically with European customers."
About LDK Solar (NYSE: LDK)
LDK Solar Co., Ltd. (NYSE: LDK) is a leading vertically integrated manufacturer of photovoltaic (PV) products and the world's largest producer of multicrystalline wafers. LDK Solar manufactures polysilicon, mono and multicrystalline ingots, wafers, modules, and engages in project development activities in selected segments of the PV market. Through its broad product offering of mono and multicrystalline solar wafers and modules, LDK Solar provides its customers with a full spectrum of solutions. LDK Solar's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China. LDK Solar's office in the United States is located in Sunnyvale, California. For more information about our company and products, please visit www.ldksolar.com
Safe Harbor Statement – LDK Solar
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements, including but not limited to, LDK Solar's ability to raise additional capital to finance its operating activities, the effectiveness, profitability and marketability of its products, the future trading of its securities, the ability of LDK Solar to operate as a public company, the period of time during which its current liquidity will enable LDK Solar to fund its operations, its ability to protect its proprietary information, the general economic and business environment and conditions, the volatility of LDK Solar's operating results and financial condition, its ability to attract and retain qualified senior management personnel and research and development staff, its ability to timely and efficiently complete its ongoing construction projects, including its polysilicon plants, and other risks and uncertainties disclosed in LDK Solar's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on information available to LDK Solar's management as of the date hereof and on its current expectations, assumptions, estimates and projections about LDK Solar and the solar industry. Actual results may differ materially from the anticipated results because of such and other risks and uncertainties. LDK Solar undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, assumptions, estimates and projections except as may be required by law.
SOURCE LDK Solar Co., Ltd.