UPDATE: Suntech and MEMC Terminate Long Term Silicon Wafer Supply Agreement

Suntech Power Holdings Co., Ltd. STP today announced that due to rapid changes in the market for silicon wafers, Suntech and MEMC have agreed to mutually terminate a solar wafer supply agreement originally entered into in 2006 with a term through 2016. Suntech also announced that it will incur a one-time expense related to the discontinuation of CSG Solar's research and development operations.