LDK Solar signs 10-year deal with Photovoltech

Chinese solar company LDK Solar Co Ltd on Wednesday said it signed a 10-year contract to supply about 400 megawatts of solar wafers to Belgium-based Photovoltech.

The company said it will deliver the multicrystalline solar wafers -- the principal raw material used in solar cells -- from 2009 through 2018.

It did not disclose the value of the contract but said Photovoltech will make a down payment for a portion of the contract's value.

Shares of LDK closed at $38.39 on the New York Stock Exchange on Tuesday.