REC ASA - Secures a NOK 2 billion wafer sales contract

REC has entered into a significant long-term agreement for supply of multi-crystalline silicon wafers to an existing customer.

REC has entered into a significant long-term agreement for supply of multi-crystalline silicon wafers to an existing customer. Under the agreement, REC will until 2013 deliver wafers worth about NOK 2 billion.
 
 
REC, the world's largest manufacturer of multicrystalline silicon wafers for solar cells, has signed a long-term agreement for the supply of wafers with one of its major existing customers. The agreement is structured as a take-and-pay contract with pre-determined prices and volumes for the entire contract period. Deliveries of wafers under the new agreement will start in 2009 and run until 2013, with a total contract value of about NOK 2 billion.
 
Supply under the new agreement comes in addition to the volumes delivered under the existing contract.

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