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LDK Solar inks contract with Japanese company

September 5, 2008
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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.

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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