Hoku Scientific (HOKU) Amends Poly Deal with Jinko Solar
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Hoku Scientific, Inc. (NASDAQ: HOKU) and Jinko Solar Co., Ltd. announced the amendment of the polysilicon supply agreement in effect between the two companies.
According to the terms of the amendment, both companies have agreed to reduce the term of the sales agreement by one year, and to delay the first shipment date from December 2009 to December 2010. This will result in a ten percent reduction of the total volume of polysilicon to be sold by Hoku to Jinko. The pricing and other commercial terms of shipment for the remaining nine years remain unchanged.
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