UPDATE 1-LDK Solar signs $300 mln sales deal with BYD

* LDK Solar, China’s BYD sign polysilicon sales deal

* Sales agreement is valid for two years

* Shipments expected to commence in Jan 2011

(Adds details)

Oct 25 (BestGrowthStock) – Chinese solar wafer maker LDK Solar Co
Ltd (LDK.N: ) said on Monday it has signed a two-year polysilicon
sales agreement valued at about $300 million with Chinese car
and battery maker BYD Company Ltd (1211.HK: ).

As per the terms of the sales deal, LDK Solar will supply
polysilicon with monthly shipments expected to commence in
January 2011 and extend through the end of 2012, LDK said.

A deposit for this two-year contract has already been
received, LDK said.

“We are very excited to add BYD, a leading high-tech
enterprise that has a strong commitment to the green energy
sector, as a key customer,” LDK Solar Chief Executive Xiaofeng
Peng said in a statement.

BYD is 10 percent owned by U.S. billionaire Warren Buffett’s
Berkshire Hathaway (BRKa.N: ).
(Reporting by Sakthi Prasad in Bangalore; Editing by Jon
Loades-Carter)

UPDATE 1-LDK Solar signs $300 mln sales deal with BYD