Hoku Amends Supply Contract With Solargiga


Hoku Materials Inc. and Wealthy Rise International Ltd., a wholly owned subsidiary of Solargiga Energy Holdings Ltd., a manufacturer of monocrystalline ingots and wafers in China, have agreed to an amendment to the polysilicon supply agreement in effect between the two companies.

According to the amended contract, the total volume of polysilicon to be sold by Hoku to Wealthy Rise will be reduced such that up to approximately $136 million may be payable to Hoku over a 10-year period, subject to product deliveries and other conditions.Â

The amended contract also adjusts the date when Hoku is obligated to commence shipments of polysilicon by three months, from March 31, 2010, to June 30, 2010, as well as adjusting the dates for price adjustments and termination rights in the event of a delay in commencing shipment.

Further contract amendment details are available at www.hokucorp.com.

SOURCE: Hoku Scientific Inc.

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