LDK Solar
LDK is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells, devices capable of converting sunlight into electricity. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules.
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LDK Solar posts profits, confident of growth
LDK Solar (NYSE:LDK), the largest solar manufacturer in Asia reported a profit of US$155m for the full year on revenue of US$1.64bn, despite making a loss of US$145m for the fourth quarter of 2008.
LDK appears to have continued to make significant progress with the construction of its plants. In January, the company’s new 1,000 metric tonne (MT) annual capacity polysilicon plant completed its first production run. The company plans to expand the plant’s capacity to 2,000 MT by year-end, bringing LDK’s total capacity to 12,000 MT. The company aims to position itself for the expected upturn in solar demand, particularly as smaller companies are falling away.
Government dignitaries including the Governor of Jiangxi, Mr Wu Xinxiong, celebrated the milestone with company management at the ceremony. “The Jiangxi government remains committed to supporting LDK Solar”, said Mr Wu.
Prior to its listing on the NYSE in June 2007, the company was financed in its early stages by venture capital firm Tsing Capital, owned by Tsinghua University, the premier scientific institution in China.
LDK makes high quality, multicrystalline solar wafers, the principal raw material in the production of solar cells. Wafers are then sold to manufacturers of photovoltaic products, including solar cells and solar modules, across the globe. The company also provides wafer processing services to solar cell and module manufacturers.
The International Energy Agency (IEA) reported in December last year that oil would reach US$300 per barrel by 2020. This suggests that the current prices of many of the more secure renewable energy stocks such as LDK may be undervalued investment opportunities.
Other LDK Solar news
- LDK Solar completes first production run at 15,000 tonne polysilicon plant
2009-09-10 - LDK Solar acquires controlling stake in Italian system integrator
2009-07-16
