MERRIMACK, N.H.--(BUSINESS WIRE)--Feb. 9, 2012--
GT Advanced Technologies Inc., (NASDAQ: GTAT), today announced that its
subsidiary, GT Crystal Systems, has entered into a purchase agreement
with Chongqing Silian Optoelectronics Science & Technology Co., Ltd.
(Silian) to supply 500,000 TIE (2-inch equivalent) of 6-inch diameter
C-plane sapphire cores, which Silian will use to produce high quality
sapphire substrates for the high brightness LED industry.
GT's ASF(TM) furnaces produce high quality sapphire crystal material that is well suited for LED manufacturing (Photo: Business Wire)
“We are pleased to announce this important agreement for large diameter
sapphire cores and to continue our long and successful relationship with
Silian,” said Cheryl Diuguid, GT Advanced Technologies’ vice president
and general manager of its Sapphire Equipment and Materials Group.
“Silian has an outstanding reputation for providing high quality
substrates to some of the most advanced LED producers in the industry.
This contract further validates that sapphire material produced in our
ASF™ furnaces is well suited for use in the LED supply chain.”
"ASF-grown sapphire has helped Silian and our customers to achieve the
high yields necessary for the maturing LED industry,” said David Reid,
COO and general manager, Chongqing Silian Optoelectronics Science &
Technology Co., Ltd. “The consistency and quality of ASF-grown sapphire
has served our business well and we look forward to continued
collaboration with GT Crystal Systems.”
GT’s ability to produce LED-grade sapphire at diameters of six inches
and larger helps to accelerate the transition to next generation MOCVD
production tools capable of handling the larger diameter wafers. Larger
substrates allow more efficient MOCVD production processes than current
generation MOCVD tools processing two- and four-inch wafers. The large
diameter cores will be produced from boules grown in GT’s ASF sapphire
growth furnaces installed in the company’s newly expanded sapphire
manufacturing facility in Salem, Massachusetts. This is the same
technology which has been sold commercially to GT’s ASF equipment
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 please visit www.gtat.com.
Some of the statements in this press release are forward-looking in
nature, including the company’s ability to recognize 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 third quarter of fiscal 2012 filed
on February 7, 2012. 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.
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Source: GT Advanced Technologies Inc.
GT Advanced Technologies
Ryan Blair, 603-681-3869