Company Provides Preliminary Financial Outlook for 2009
XINYU CITY, China and SUNNYVALE, Calif., Aug. 25 /PRNewswire-FirstCall/ --
LDK Solar Co., Ltd ('LDK Solar'; NYSE: LDK), a leading manufacturer of solar
wafers, announced today that the company held a ceremony celebrating its wafer
plant reaching the milestone of 1.0 GW annualized capacity. This event was
hosted by Mr. Xiaofeng Peng, Founder, Chairman and CEO in Xinyu, China on
August 23, 2008.
'I would like to congratulate our team on their remarkable speed in
expanding wafer production capacity and their success in reaching the 1.0 GW
milestone ahead of schedule,' commented Chairman Peng. 'We are pleased to
achieve one of the fastest capacity ramps within the solar industry as we
expand our production capabilities to meet the continued strong demand from
our growing global customer base.'
'We are proud to reach this significant milestone and remain confident in
our ability to expand to 1.2 GW wafer capacity by the end of 2008. This
achievement demonstrates our continued commitment to becoming the largest and
lowest cost wafer producer in the solar industry,' concluded Mr. Peng.
LDK Solar's 1.0 GW production capacity is in line with the company's
publicly announced plans to reach a target annualized wafer production
capacity of up to 1.2 GW by the end of 2008, 2.2 GW by the end of 2009 and 3.2
GW by the end of 2010.
In addition, the company today provided the following preliminary outlook
for 2009.
2009 Financial Outlook:
* Revenue: Between $2.8 billion and $3.0 billion
* Wafer shipments: Between 1.45 GW to 1.55 GW
About LDK Solar (NYSE: LDK)
LDK Solar Co., Ltd. is a leading manufacturer of solar wafers, which are
the principal raw material used to produce solar cells. LDK Solar sells wafers
globally to manufacturers of photovoltaic products, including solar cells and
solar modules. In addition, LDK Solar provides wafer processing services to
solar cell and module manufacturers. LDK Solar's headquarters and
manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City,
Jiangxi Province in the People's Republic of China. Its office in the United
States is located in Sunnyvale, California.
Safe Harbor/Forward Looking Statements
This announcement contains forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical fact in this
announcement are forward-looking statements, including but not limited to, LDK
Solar's ability to raise additional capital to finance its activities; the
effectiveness, profitability, and marketability of its products; the future
trading of its securities; the ability of LDK Solar to operate as a public
company; the period of time for which its current liquidity will enable LDK
Solar to fund its operations; its ability to protect its proprietary
information; general economic and business conditions; the volatility of its
operating results and financial condition; its ability to attract or retain
qualified senior management personnel and research and development staff; and
other risks detailed in LDK Solar's filings with the Securities and Exchange
Commission. These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations, assumptions,
estimates and projections about LDK Solar and the industry.
LDK Solar undertakes no obligation to update forward-looking statements to
reflect subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although LDK Solar believes
that the expectations expressed in these forward-looking statements are
reasonable, they cannot assure you that their expectations will turn out to be
correct, and investors are cautioned that actual results may differ materially
from the anticipated results.
SOURCE LDK Solar Co., Ltd.
