LDK Solar Commences Commercial Production in Second 5,000 MT Train in its Polysilicon Plant
XINYU CITY, China and SUNNYVALE, Calif., August 23, 2010 -- LDK Solar Co., Ltd. ("LDK Solar") (NYSE: LDK), a leading manufacturer of multicrystalline solar wafers and PV products, today announced that its second 5,000 MT polysilicon train has completed the commissioning process and commenced commercial production.
This second train, located at the 15,000 MT Mahong Polysilicon Plant in Xinyu City, China, is expected to reach its designed annualized capacity within three to six months. This achievement should assist LDK Solar’s polysilicon facilities to achieve the expected production costs and annual capacity targets.
"We are very pleased to commence commercial production in the second train of our Mahong plant," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. “Lessons we learned and experience gained from the first train has been applied and allowed us to increase our speed of execution in commissioning and starting up commercial production of the second train. Quality of the polysilicon produced to date confirms the state-of-the-art technology implemented at our Mahong polysilicon facility. This achievement enables us to continue our progress in improving economies of scale, and is a clear demonstration of the hard work and commitment of our operations team. We look forward to continued success in increasing our polysilicon production to meet the growing needs of the solar industry worldwide.”
About LDK Solar (NYSE: LDK)
LDK Solar Co., Ltd. (NYSE: LDK) is a leading vertically integrated manufacturer of photovoltaic (PV) products and the world's largest producer of multicrystalline wafers. LDK Solar manufactures polysilicon, mono and multicrystalline ingots, wafers, modules, and engages in project development activities in selected segments of the PV market. Through its broad product offering of mono and multicrystalline solar wafers and modules, LDK Solar provides its customers with a full spectrum of solutions. LDK Solar's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China. LDK Solar's office in the United States is located in Sunnyvale, California. For more information about our company and products, please visit www.ldksolar.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements, including but not limited to, LDK Solar's ability to raise additional capital to finance its operating activities, the effectiveness, profitability and marketability of its products, the future trading of its securities, the ability of LDK Solar to operate as a public company, the period of time during which its current liquidity will enable LDK Solar to fund its operations, its ability to protect its proprietary information, the general economic and business environment and conditions, the volatility of LDK Solar's operating results and financial condition, its ability to attract and retain qualified senior management personnel and research and development staff, its ability to timely and efficiently complete its ongoing construction projects, including its polysilicon plants, and other risks and uncertainties disclosed in LDK Solar's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on information available to LDK Solar's management as of the date hereof and on its current expectations, assumptions, estimates and projections about LDK Solar and the solar industry. Actual results may differ materially from the anticipated results because of such and other risks and uncertainties. LDK Solar undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, assumptions, estimates and projections except as may be required by law.
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