CHONGQING, China, Dec. 16, 2013 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" or the "Company"), a leading polysilicon manufacturer based in China, today announced that its wholly owned subsidiary, Xinjiang Daqo New Energy Ltd. ("Xinjiang Daqo"), has signed a two-year spot-price polysilicon supply framework contract with a leading solar PV company.
According to the terms of the agreement, Xinjiang Daqo will supply polysilicon on monthly basis beginning January 2014 through December 2015. The contract will account for approximately 20% of Xinjiang Daqo's polysilicon capacity in 2014, and 15% in 2015. The selling prices will be discussed and decided based on spot market prices at the time.
"We are excited to establish such a long-term business relationship with this leading solar PV company. As the market keeps improving, we see stronger demands for polysilicon recently. It is the first contract that we signed for our 2015's capacity," commented Dr. Gongda Yao, Chief Executive Officer of Daqo New Energy. "We are committed to creating value for our customers by providing high quality and low cost polysilicon products. We will continue to work closely with them to further improve the efficiency and performance of solar PV products in the future."
About Daqo New Energy Corp.
Daqo New Energy Corp. (NYSE: DQ) is a leading polysilicon manufacturer based in China. Daqo New Energy primarily manufactures and sells high-quality polysilicon to photovoltaic product manufacturers. It also manufactures and sells photovoltaic wafers. For more information about Daqo New Energy, please visit www.dqsolar.com.
SOURCE Daqo New Energy Corp.