Yingli Green Energy Signs Deal For Materials From Korean Firm

Integrated photovoltaic manufacturer Yingli Green Energy has signed two polysilicon supply agreements with DC Chemical Company, a leading Korean chemicals producer.

"We are very pleased to initiate a new relationship with such a well-respected company as DC Chemical," commented Mr. Liansheng Miao, chairman and CEO of Yingli Green Energy.

Under the first agreement, DC Chemical will supply polysilicon with a value of approximately US$27 million to Yingli Green Energy in 2008. Under the second agreement, DC Chemical will supply polysilicon with a total value of approximately US$188 million to Yingli Green Energy from 2009 to 2013.

"One of our key strategies on the procurement side has been to establish long-term relationships with some of the most respected polysilicon suppliers around the world. These two supply agreements demonstrate our ability to work with major suppliers in the industry and we believe our relationship with DC Chemical will help us further secure our polysilicon needs in the short and long term," added Miao.

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