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Hoku and Suntech Sign $678 M Polysilicon Supply Contract

Hoku Materials and Suntech Power Holdings Co., Ltd. signed a contract for Hoku’s sale and delivery of polysilicon to Suntech over a ten-year period beginning in mid-2009. Up to approximately $678 million may be payable to Hoku during the ten-year period, subject to the achievement of milestones, the acceptance of product deliveries and other conditions. Hoku is in the process of building a plant capable of producing 2,000 metric tons of polysilicon per year in Pocatello, Idaho. Hoku announced in January the signing of a seven-year polysilicon supply contract with SANYO Electric Co., Ltd. that would provide for approximately $370 million in payments to Hoku over the term of the agreement.