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LDK Solar inks contract with Japanese company

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By AP
05 September 2008 @ 09:36 am EST

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NEW YORK - LDK Solar Co. said Friday it has signed an eight-year contract with Japan's Sumitomo Corp. to supply solar cell parts in the Asian country.

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LDK

13.12

-0.91

Under the terms of the deal, LDK will supply about 750 megawatts of multicrystalline silicon wafers to Sumitomo.

Sumitomo will make an advanced payment on a portion of the contract to LDK, though precise financial terms were not disclosed.

LDK shares fell $1.75, or 3.8 percent, to $44.23 in trading after the opening bell.

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