LDK Solar agrees another major wafer deal

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Struggling wafer manufacturer LDK Solar has agreed an 850MW wafer supply deal with Taiwanese cell manufacturer Gintech.

LDK released a statement with its joint provisional liquidators to confirm the details of the deal, which will commence this month and run until March 2018.

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The contract follows last week’s announcement that it had agreed a 765MW contract with another Taiwanese cell producer Solartech Energy Corporation.

Both contracts will be fulfilled by LDK’s Chinese subsidiary Jiangxi LDK Solar Hi-Tech Co. Ltd.

LDK spent the second half of 2013 negotiating a series of postponements to payments to bondholders. Liquidators at Cayman Islands firm Zolfo Cooper agreed a deal with bondholders in early April 2014. Liquidators are also fighting against delisting from the New York Stock Exchange, which begin around the same time.

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