JA Solar Holdings (JASO) Enters Litigation Settlement with Hemlock
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JA Solar Holdings Co., Ltd. (Nasdaq: JASO) announced that it has agreed to settle the lawsuit brought by Hemlock Semiconductor Pte. Ltd. (“Hemlock”) against JA Solar Technology Yangzhou Co., Ltd. (“JA Solar Yangzhou”) in the Supreme Court of the State of New York (Case No. 650182/2015) on January 20, 2015 (the “Action”) with respect to a Long-Term Supply Agreement (the “Original Supply Agreement”) dated as of May 4, 2011, as amended, by and between Hemlock and JA Solar Yangzhou. As part of the settlement, JA Solar (BVI) Limited (“JA Solar BVI”), JA Solar Yangzhou and Hemlock Semiconductor Operations LLC (“Hemlock Operations”) have entered into a new Long-Term Supply Agreement under which JA Solar agrees to purchase solar grade polycrystalline silicon products from Hemlock Operations on a quarterly basis until October 31, 2026.
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