Symbol Search
Trader Resources > Story Details

* Website headlines are delayed. For real-time breaking news in both audio and text formats try NewsStation by Trade The News. Apply today for a Free Trial »


 

[FSLR] First Solar Inc.

Symbol: FSLR
Website: click here

8/27/2008 06:00pm
First Solar Inc. Extends supply agreements 5N Plus Inc.

- 5N Plus will provide cadmium telluride and cadmium sulphide to the Company from 5N Plus' Monteral facility.
- 5N Plus Inc. also extended its supply agreement relating to the supply of similar product from 5N Plus' German facility, which agreement is subject to the execution of notarized documents in accordance with German law. Pursuant to these amendments, the previous supply agreements are being extended until July 31, 2012, representing approximately one additional year.
- The agreements are being amended to increase by 50% the minimum prescribed quantities of cadmium telluride to be ordered by First Solar for most of the remaining term of the agreements.
- In addition, the definition of "change of control", which allows it to exercise a purchase option over 5N Plus' German assets in certain circumstances, are being materially amended, such that a "change of control" will now occur only when a party acquires 50% or more of the issued and outstanding shares of 5N Plus.


Other headlines for [FSLR]


Technology sector headlines

Copyright © 2008 Trade The News. For a free 1 week interactive trial to our audio broadcasts, research on demand, and real-time headlines please apply for a Free Trial »