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You are here: IndiaNotes >> Author's Corner >> Businesswire India Press Releases

Businesswire India Press Releases

GT Advanced Technologies Announces Two New Orders Totaling $66.5 Million for Silane and TCS Production Equipment and Technology

06-01-2012 10:29 AM | Source : Business Wire (Business Wire India)
 
 

GT Advanced Technologies Inc., (NASDAQ: GTAT), today announced that it has received an order for Silane production equipment and technology from SMP Ltd. a joint venture between Samsung Fine Chemicals and MEMC Singapore, a subsidiary of MEMC Electronic Materials (collectively referred to as “MEMC”). The silane equipment and technology will be used in the production of fluidized bed polysilicon using MEMC fluidized bed reactor technology. This sale represents GT’s continued efforts to diversify its product offerings and widen its portfolio. In addition, GT has received an order for its TCS technology and equipment from a new polysilicon customer. These two orders total $66.5 million and have been included in GT’s backlog for its Q3 FY12, which ended on December 31, 2011. These orders are not related to the engineering services contract booked with another incumbent polysilicon producer in Q2FY12.

“We have a strong record of helping to develop highly productive and low-cost TCS and now Silane production plants around the world and we are excited to be working with SMP Ltd. on this important project,” said Dave Keck, vice president and general manager of GT’s polysilicon business. “The SMP project is an important step in our continued support of the renewable energy industry in Korea and we are proud to be associated with this project and working with Samsung Fine Chemicals and incumbent MEMC.”

About GT Advanced Technologies Inc.

GT Advanced Technologies Inc. is a global provider of polysilicon production technology, and sapphire and silicon crystalline growth systems and materials for the solar, LED and other specialty markets. The company's products and services allow its customers to optimize their manufacturing environments and lower their cost of ownership. For additional information about GT Advanced Technologies, please visit www.gtat.com.

Forward-Looking Statements

Some of the statements in this press release are forward-looking in nature, including statements regarding expected revenue from customer contracts. These statements are based on management’s current expectations or beliefs. These forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside the Company’s control, which could cause actual events to differ materially from those expressed or implied by the statements. Factors that may cause actual events to differ materially from those expressed or implied by our forward-looking statements include the possibility that the Company is unable to recognize revenue on customer contracts, that technological changes could render existing products or technologies obsolete, the Company may be unable to protect its intellectual property rights, competition from other manufacturers may increase, exchange rate fluctuations and conditions in the credit markets and economy may reduce demand for the Company’s products and various other risks as outlined in GT Advanced Technologies Inc’s (formerly Solar International, Inc.) filings with the Securities and Exchange Commission, including the statements under the heading “Risk Factors” in the Company’s annual report on Form 10-K for fiscal 2011 filed on May 26, 2011 and quarterly report on Form 10-Q for the second quarter of fiscal 2012 filed on November 9, 2011. GT Advanced Technologies, Inc. is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

 

 
CONTACTS :
Media
GT Advanced Technologies
Jeff Nestel-Patt, 603-204-2883
[email protected]
or
Investors/Analysts
GT Advanced Technologies
Ryan Blair, 603-681-3869
[email protected]||CONTACTS :
Media
GT Advanced Technologies
Jeff Nestel-Patt, 603-204-2883
[email protected]
or
Investors/Analysts
GT Advanced Technologies
Ryan Blair, 603-681-3869
[email protected]
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