GCL-Poly and DelSolar sign second wafer supply contract
Further strengthening long-term strategic alliance
GCL-Poly Energy Holdings Limited (“GCL-Poly” or the “Company”, stock code: 3800.HK, together with its subsidiaries, the “Group”) announced today that GCL (Nanjing) Solar Energy Technology Company Limited, a wholly-owned subsidiary of GCL-Poly, has signed a second long-term wafer supply contract with DelSolar Co., Ltd. (“DelSolar”, stock code: 3599.TWO), a leading solar cell and module provider in Taiwan, further strengthening the long-term strategic alliance between the two companies.
GCL-Poly will provide to DelSolar high quality wafers that can meet the needs of about 664MW cells from October 2010 to December 2015. The agreement includes a mechanism by which the parties may adjust prices to better reflect prevailing market conditions. DelSolar expects the alliance to greatly enhance its overall operational needs and profitability.
R.C. Liang, Chairman and CEO of DelSolar said, “Both companies have been performing very well in meeting their obligations since signing the first wafer supply contract in May 2010. In order to strengthen our strategic partnership with GCL-Poly and to secure the material needs for DelSolar’s future expansion, we have proactively discussed the second long-term supply contract with GCL-Poly. DelSolar was pleased to quickly reach agreement on the second supply contract with GCL-Poly. This agreement will enhance DelSolar’s market position and strengthen the strategic partnership between the two companies.”
Mr. ZHU Gong Shan, Executive Director, Chairman and CEO of GCL-Poly, said, “We are delighted to be able to sign the second wafer supply agreement with DelSolar, a leading solar company in Taiwan, so soon after we signed the first wafer supply contract. This demonstrates again the endorsement and recognition of GCL-Poly’s products and customer services by leading industry players. I look forward to closer cooperation with Delsolar in the future, thus creating a win-win situation for both companies within the fast-growing solar industry.”
