MEMC says Conergy contract remains in place; legal battle looms

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Hopes of a revision to Conergy’s 10-year wafer supply agreement with MEMC have rescinded as soon as they were raised, with MEMC noting in a press statement covering first quarter financial results that the ‘contract remains in full force and effect.’ In a conference call to discuss financial results, MEMC executives said that Conergy had already been advised that the existing contract would remain in place.

Conergy had threatened legal action over negotiations failing. MEMC said in the conference call that it had not yet received notice of any legal proceedings.

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MEMC has however renegotiated two long-term contracts, where prices have been adjusted lower but wafer supply increased. The companies successful in renegotiated contracts are believed to be Suntech and Gintech, according to a financial analyst comments during the conference call.

Conergy had wanted to scrap the current wafer supply deal and enter into a two year deal with reduced prices.

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