Hoku Scientific-HOKU and Sanyo extend Polysilicon agreement Fly On The Wall "All News "

Hoku Scientific-HOKU and Sanyo extend Polysilicon agreementFly On The Wall "All News "
Hoku Materials, established to manufacture and sell polysilicon for the solar market, today announced that it has amended its polysilicon supply contract with SANYO to increase the term of the contract from seven to ten years. Total amounts that may be payable to Hoku Materials under the contract have increased from up to approximately $371 million for the seven year contract, to up to approximately $530 million for the amended ten year contract. Hoku Materials and SANYO also agreed to extend to May 31, 2008 the date on which either party may terminate the supply agreement if Hoku Materials is unable to complete the financing for its polysilicon production plant.