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NEWS: LDK Solar Expands Solar Cell Capacity to 570 MW

http://finance.yahoo.com/news/LDK-Solar-Expands-Solar-Cell-prnews-3989696447.html?x=0&.v=1

LDK Solar Expands Solar Cell Capacity to 570 MW

Press Release Source: LDK Solar Co., Ltd. On Monday April 4, 2011, 3:15 am EDT

XINYU CITY, China and SUNNYVALE, Calif., April 4, 2011

PRNewswire/ -- LDK Solar Co., Ltd. ("LDK Solar") (NYSE:LDK - News), a leading manufacturer of multicrystalline solar wafers and PV products, today announced the addition of one new cell manufacturing site in Hefei City, Anhui Province. The new cell plant expands LDK Solar's cell capacity to 570 MW per annum as of today.

"We are very pleased to expand our cell manufacturing to Hefei City, Anhui Province," stated Xiaofeng Peng, Chairman and CEO of LDK Solar.

"We believe this increased capacity will enhance LDK Solar's vertical integration strategy, and we expect our module manufacturing costs will be significantly reduced beginning in the second quarter of 2011.

"We would also like to express our sincere appreciation to Hefei City and Anhui Province for their great support in the planning and constructing process of our cell plant in this very nice city. We have hired 2,014 employees now working in Hefei."

What this news means and LDK's updated capacity:

LDK Solar (Hefei) Co., Ltd. announced that its first solar cell was produced at 17:20 on 3/30/2011 after 8 months construction. The facility has 40 solar cell production lines. The annual revenue form this facility is expected to be over 200 billion yuan ($3 billion USA).

LDK's updated annual capacity:

- Polysilicon 11,000 mt (up to 18,000 to 25,000 year end 2011)
- Wafer 3,000 mw (global leader)
- Cell 1,000 mw
- Module 500 mw

LDK also has approximately 400 mw in solar farms to sell off.