【Tainan/ Taiwan–August 17th , 2012】Regarding the news about the effect of bankruptcy filing by REC Wafer to Taiwanese solar companies, Motech Industries, Inc. (Motech) made the following clarification:
1.The long-term supply contract between Motech and REC Wafer had ended on December 31st, 2011. Both companies had fulfilled all obligations under the contract.
2.Motech did not commit any prepayment under the contract. The bank guarantee issued to REC Wafer had been withdrawn upon the expiry of the contract.
3.There were no commercial dispute between REC Wafer and Motech during the contract duration. As such, there will be no possibility of litigation going forward.
Conclusion: There is no influence to Motech as a result of REC Wafer’s bankruptcy filing.