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Hemlock takes Solargiga unit to court

Image via Flickr/Joe Gratz (CC0 1.0)

June 18 (Renewables Now) - A major US polysilicon producer, Hemlock Semiconductor (HSC), has taken legal action against a unit of Chinese firm Solargiga Energy Holdings Ltd (HKG:0757) over alleged breaches of a raw material purchase agreement.

Solargiga, which makes monocrystalline silicon ingots, wafer, solar cells and modules, said Friday its indirect subsidiary Wealthy Rise International Ltd had received a Complaint and Demand for Jury Trial against it from the courts of the US state of Michigan. The plaintiff, Hemlock Semiconductor Operations LLC, is seeking some USD 391 million (EUR 336.7m) for the alleged breaches of a polysilicon supply contract from March 2011.

Wealthy Rise is currently seeking legal advice on the matter, Solargiga said. The company added that it had recognised appropriate provision in previous consolidated financial statements so its directors believe no further recognition of significant provision loss in the current financial statement is needed.

Hemlock was engaged in similar disputes with SolarWorld and JA Solar Holdings several years ago.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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