GT Solar International, Inc. (SOLR)

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GT Solar receives $33M order for sapphire crystallization furnaces from South Korea-based OCI

GT Solar International, Inc. Related Quotes
Symbol Price Change
SOLR 11.21 +0.46


On Thursday January 20, 2011, 4:42 pm
MERRIMACK, N.H. (AP) -- GT Solar International Inc., which makes equipment and develops technology for the power industry, received a $33 million order for sapphire crystallization furnaces from South Korea-based OCI Co. Ltd., the company said Thursday.

The purchase marks OCI's entrance into the LED industry, and it is GT Solar's first commercial sale of its sapphire crystallization furnaces in Korea.

"This is the third order for our sapphire crystallization furnaces in the last two months from leading PV manufacturers that are entering the LED market," said Tom Guiterrez, GT Solar's president and CEO. "We worked closely with OCI several years ago when they launched their polysilicon production operations helping them to become one of the PV industry's leading producers of polysilicon."

Polysilicon is used in many solar-energy and liquid crystal display (LCD) products.

Shares of the Merrimack, N.H.-based company rose 46 cents, or 4.3 percent, to close at $11.21.