China Sunergy Co. Ltd. has entered into renegotiation regarding a June 2008 supply agreement signed with REC SiTech AS.
China Sunergy says it entered into a standard agreement on June 25, 2008, for the supply of monocrystalline silicon ingots and/or wafers with wafer provider REC SiTech for the supply of monocrystalline 156-mm wafers from 2009 through 2015.
REC SiTech AS is now dissolved due to a merger earlier this year. Because the polysilicon supply market has changed dramatically since the fourth quarter of 2008, key raw-material suppliers, such as REC, have indicated the renegotiation of supply agreements with their respective customers, China Sunergy says, adding that it plans to ‘reach a mutually beneficial agreement between both parties.’
SOURCE: China Sunergy Co. Ltd.