LDK Solar Co

LDK Solar Co. Ltd., located in Xinyu City, Jiangxi province in the People's Republic of China, manufactures multicrystalline solar wafers used in solar cells, and provides wafering services for both monocrystalline and multicrystalline wafers.[2] Their distribution network for solar products covered over 43 distributors and wholesalers across 15 countries.[3]

LDK Solar Co., Ltd.
IndustryPhotovoltaics
Founded2005
HeadquartersXinyu, Jiangxi, China
Key people
Xiaofeng Peng (Chairman & CEO)
RevenueIncrease US$1.643 billion (2008)[1]
Increase US$8.99 million (2008)[1]
US$70.223 million (2008)[1]
Total assetsIncrease US$ 3.373 billion (2008)
Total equityIncrease US$ 775.9 million (2008)
Websitewww.ldksolar.com

LDK filed for Chapter 11 bankruptcy in 2014.[4]

LDK and its Chinese subsidiaries were forced into bankruptcy in 2015.[5]

History

Founding

Xiaofeng Peng founded LDK Solar in July 2005 and is its chairman and chief executive officer. Mr. Peng first founded Suzhou Liouxin in March 1997, and was its chief executive officer until February 2006.[6] Suzhou Liouxin manufactured personal protective equipment products like gloves and employed 12,000. He considered adding solar cell wafers to its product line when he realized that no Chinese company was producing them. In 2005, Peng invested $30 million of his own money and $80 million of venture financing into building factories.[7]

Production

LDK stated an annualized solar wafer capacity of 1.46 GW at the end of 2008, and 3GW at the end of 2010.[8]

LDK contracted with Fluor Corp., an American engineering firm, for construction of a 15,000 Ton per Year polysilicon plant. The first 5000-ton train went into production in July 2009, with the second 5000 train scheduled for Q3 and third and final train by the end of 2010.[8][9]

A Second, 1000 Ton per Year Polysilicon Plant was Bought by LDK from Sunways AG, and entered Production Phase at the end of 2008.[8] On January 16, 2009, LDK announced the completion of their first polysilicon production run from their Sunways Plant .

Bankruptcy

LDK and its Chinese subsidiaries were forced into bankruptcy in 2015.[5]

References
  1. Yahoo Finance LDK Solar Income Statement
  2. NYSE Listed Company Directory, Symbol: LDK Archived 2012-10-10 at the Wayback Machine
  3. "ENF Ltd".
  4. "Solar cell manufacturer LDK Solar files for bankruptcy". Bloomberg. October 21, 2014. Retrieved February 28, 2023.
  5. "LDK Solar collapses into bankruptcy in China". PV Tech. 2015-11-18. Retrieved 2021-08-27.
  6. "Board of Directors". Archived from the original on 2008-09-14. Retrieved 2008-09-03.
  7. Farrell, Andrew. "Asia's Youngest Billionaires". Forbes. Retrieved 2008-09-03.
  8. "Update of 4Q08 and 2009 Outlook". LDK Solar Co., Ltd. Retrieved 2009-01-05.
  9. Daily, Matt; Lewis Krauskopf; Gerald E. McCormick (2007-09-07). "Fluor wins $1 bln contract for LDK Solar plant". Reuters. Retrieved 2008-02-24.
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