Stock Alert for JA Solar Holdings Co. Ltd. (ADR)(JASO)
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    JA Solar (JASO) Stock Gains On Supply Agreement With MEMC (WFR)

    JA Solar (ADR) (NASDAQ: JASO) announced today that it had entered into a strategic multi-year supply agreement with MEMC Electronic Materials Inc (NYSE: WFR). According to the agreement, JA Solar will provide MEMC with high-performance solar modules, starting from Q3 of this year and going through 2012. The company also announced that Mr. Yuwen Zhao and Dr. Peng Fang had been elected to JA Solar’s Board of Directors.

    CEO Dr. Peng Fang said that the supply agreement was an indicator of JA Solar’s ability to work with leaders in the global photovoltaic industry. He pointed out that MEMC is an established solar power project developer in North America and Europe, having built up an extensive project pipeline via its subsidiary Sun Edison. Dr. Fang also added that the partnership with MEMC would improve JA Solar’s position in the value chain as well as its visibility.

    Sean Hunkler, Senior Vice President of Customer Advocacy at MEMC, said that the company was pleased to have tied up with JA Solar, given the latter’s competitive cost, and superior quality and product performance. He stated that the two companies had complementary strengths in their respective segments of the solar chain.

    JA Solar’s stock has been boosted by news of the supply agreement, and gained 7% to touch $5.44 in the premarket session today. The stock has been trading between $3.22 and $6.95 during the last 52 weeks. JA Solar had posted a gain of 3.89% to close at $5.08 yesterday. The traded volume of 7.6 million shares was below the average volume of 8.9 million shares.

    JA Solar is a leading manufacturer of high-performance solar power products based out of the People’s Republic of China. The company produces and sells monocrystalline and multicrystalline solar cells. JA Solar sells these cells to solar manufacturers around the world who incorporate these cells into modules that covert sunlight into electricity for residential and commercial purposes.

    MEMC is a global leader in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries. The company has been engaged in the design and development of wafer technology for the last 50 years.

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