RPT-UPDATE 1-INTERVIEW-China's LDK Solar sees 08 profit up third

Fri Jan 18, 2008 1:57am GMT
 
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(Repeats story sent late on Thursday)

* China's LDK Solar (LDK.N) expects net profit to top $200 mln in 2008 vs own forecast of over $150 mln in 2007 * LDK Solar could become No. 1 wafer maker by shipment in three years' time * LDK Solar to boost headcount to 10,000 by end-2008 from 6,500 now (Adds details)

By Judy Hua

SHENZHEN, China, Jan 17 (Reuters) - Solar wafer maker LDK Solar Co Ltd (LDK.N) expects its net profit to exceed $200 million this year, about a third higher than the company's forecast for net profit of more than $150 million in 2007, its chief financial officer said on Thursday.

The company, based in China's central province of Jiangxi, aims to quadruple its wafer production capacity to 1,600 megawatts by 2009 from 400 megawatts now to meet robust demand.

LDK is likely to overtake Norway's Renewable Energy Corporation ASA (REC.OL) to become the world's largest wafer maker in terms of shipment in three years' time, Jack Lai, chief financial officer told Reuters on the sidelines of a solar technology conference in the southern city of Shenzhen, near Hong Kong.

"Our target is to become the largest and the most cost-effective solar wafer maker in the world," Lai said.

"We are growing faster than REC, although REC is growing very aggressively. There is a chance that we could exceed it in three years' time."

LDK has forecast wafer shipments of 510 megawatts to 530 megawatts in 2008, and 1,050 megawatts to 1,150 megawatts in 2009.  Continued...

 

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