Solar EnerTech Corp. recently entered an equity purchase agreement in which it acquired 2 million shares of common stock of 21-Century Silicon Inc., a polysilicon manufacturer based in Dallas, for $1 million cash.
Related to the equity purchase agreement, the company has also signed a memorandum of understanding with 21-Century Silicon for a four-year supply framework agreement for polysilicon shipments. The first shipment is expected in the second quarter of 2009.
SOURCE: Solar EnerTech
