June 5, 2012 / 9:12 AM / 5 years ago

REC receives $35 mln for terminating wafer contract

OSLO, June 5 (Reuters) - Norwegian solar equipment firm Renewable Energy Corp. (REC) said on Tuesday it had agreed to terminate a long-term wafer sales contract and received $35 million cash compensation.

It added that income from the cancellation would be booked in the second quarter.

Reporting by Victoria Klesty

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