South Korea's Korea Advanced Materials (KMA) said Wednesday it has signed a US$600 million deal with Hyundai Heavy Industries Co. (KSE:009540) to supply polysilicon. Under the deal, KMA will provide the essential raw material for solar cells to the world's top shipbuilder between 2010 and 2015.
KMA is a joint venture that was set up by Hyundai Heavy and KCC CORP., South Korea's leading paint maker, to produce polysilicon.
Hyundai Heavy clinched on January 19 a deal with Woongjin Polysilicon, a unit of Woongjin Holdings Co., to buy polysilicon worth US$508 million between 2011 and 2015.