LDK Solar (LDK), a Chinese solar wafer manufacturer, is surging today, up roughly 9% in mid-day trading, after reporting a 2009 revenue outlook above estimates. LDK also met its goal of expanding its wafer production capacity ahead of schedule.
Between 2.8 billion and $3 billion vs. $2.43 billion consensus
2009 Wafer Shipments
Between 1.45 gigawatts and 1.55 gigawatts
LDK Solar’s 1.0 GW production capacity is in line with the company’s publicly announced plans to reach a target annualized wafer production capacity of up to 1.2 GW by the end of 2008, 2.2 GW by the end of 2009 and 3.2 GW by the end of 2010.
XINYU CITY, China and SUNNYVALE, Calif., Aug. 25 /PRNewswire-FirstCall/
— LDK Solar Co., Ltd (“LDK Solar”; NYSE: LDK), a leading manufacturer of
solar wafers, announced today that the company held a ceremony celebrating
its wafer plant reaching the milestone of 1.0 GW annualized capacity. This
event was hosted by Mr. Xiaofeng Peng, Founder, Chairman and CEO in Xinyu,
China on August 23, 2008.
“I would like to congratulate our team on their remarkable speed in
expanding wafer production capacity and their success in reaching the 1.0
GW milestone ahead of schedule,” commented Chairman Peng. “We are pleased
to achieve one of the fastest capacity ramps within the solar industry as
we expand our production capabilities to meet the continued strong demand
from our growing global customer base.”