Woongjin Energy loses USD-102m wafer order

Sep 26, 2011 - South Korean ingot and wafer maker Woongjin Energy Co (SEO:103130) announced that one of its customers had cancelled a silicon wafer supply contract worth KRW 121.6 billion (USD 102m/EUR 76m).

Following the news, the company's stock fell by 11.5%.

Earlier this summer, Woongjin unveiled plans to spend some KRW 500.4 billion on a new factory for solar cell ingots and wafers. Construction of the facility is to be completed in 2014.

Woongjin also installs solar light systems and operates photovoltaic power facilities.

(KRW 1,000 = USD 0.838/EUR 0.623)

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