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Hoku, Jinko Shave 10-Yr Poly Supply Contract
Hoku Scientific's (Nasdaq:HOKU) polysilicon subsidiary Hoku Materials and Jinko Solar Co have amended a ten-year polysilicon supply agreement, reducing the volume of polysilicon to be delivered to Jinko by Hoku by 10%, reducing the term of the agreement by one year and delaying the first shipment date from December 2009 to December 2010, the companies announced November 25. Pricing and other commercial terms will be unchanged for the remaining nine years of the agreement, the announcement said.
Tianwei New Energy Holdings, Hoku's prospective majority investor, has consented to the amendment, Hoku said. Based in Jiangxi province, Jinko Solar is a vertically integrated manufacturer of photovoltaic ingot, wafer, cell and module maker.
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