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LDK Solar Co. Ltd., a vertically integrated manufacturer of photovoltaic products, has reached an agreement with a Europe-based PV customer to terminate their long-term solar wafer supply agreement.

Under the terms of the agreement, originally signed in 2008, LDK Solar was to supply multicrystalline silicon wafers over a ten-year period to the unnamed customer. As part of the original agreement, the PV customer made an advanced payment representing a portion of the contract value to LDK Solar.

As part of the settlement, the parties mutually agreed to terminate the supply agreement, and LDK Solar will receive approximately $37 million.  



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