euro adhoc: Conergy AG
Joint Ventures/Cooperation/Collaboration
Conergy
secures long-term supply of raw materials for Frankfurt (Oder) with a volume of
US $7-8billion
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Contracts
25.10.2007
Conergy secures long-term supply of raw materials for Frankfurt (Oder) with a volume of US $7-8billion
US manufacturer MEMC supplies Conergy with components for solar modules with a volume of US $7-8billion
Hamburg, St. Peters / Missouri, October 26 2007 - Hamburg-based Conergy AG, Europe´s largest solar systems provider, is cooperating with a strategic partner in the ongoing boom market for solar energy and has secured long-term supplies of wafers, a component of solar cells. The company reached an agreement [yesterday/on Thursday/today/on Friday] with wafer manufacturer MEMC Electronic Materials, headquartered in Missouri USA, for the supply of wafers valued between US$ 7 and 8 billion up to 2018. With this the Hamburg company secures an important share of its long-term raw material requirements for the fully integrated solar power plant in Frankfurt (Oder) and positions itself for continuing further growth. In particular, the agreement specifies that MEMC will supply Conergy with wafers from July 2008. The volume of deliveries will increase every twelve months. The agreed prices will decline steadily over the period of the agreement so that, in spite of the expected reduction in price for solar energy systems, Conergy will be able to achieve a normal manufacturer´s margin.
Contacts:
Conergy AG
Thorsten Vespermann Head of Corporate Communications Telefon: +49 (0)40 27142 1631 Mail: presse@conergy.de
MEMC Electronic Materials, Inc.
Bill Michalek Director, Investor Relations Telefon: +1 (0)636 474-5443
end of announcement euro adhoc 25.10.2007 22:41:36
Further inquiry note:
Thorsten Vespermann
Tel.: +49 (0)40 27142-1631
Email: t.vespermann@conergy.de
Branche: Energy
ISIN: DE0006040025
WKN: 604002
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