Hoku Materials Inc. and Tianwei New Energy (Chengdu) Wafer Co. Ltd. have signed a definitive contract for Hoku's sale and delivery of polysilicon to Tianwei over a 10-year period beginning in early 2010.
According to the contract, up to approximately $284 million may be payable to Hoku during the period, subject to product deliveries and other conditions. The take-or-pay contract provides for the delivery of predetermined volumes of polysilicon each year, with the first shipment occurring in the first half of 2010 and the remainder over a 10-year period.
SOURCE: Hoku Scientific
