GT Solar Signs Polysilicon Reactor Contract With Chinese Company

General Press Releases Tuesday June 12, 2007 13:24
MERRIMACK, N.H.--(BUSINESS WIRE)--Jun. 11, 2007

GT Solar Incorporated, a global leader in photovoltaic (PV) technologies and equipment, announced today it has signed a $39.5 million contract to sell polysilicon reactors and converters to the Chinese company, Jiangsu Shunda Electronic Materials and Technology.

GT Solar's reactors and silicon tetrachloride converters will be installed at Shunda's facility near Nanjing, China, which will allow Shunda to produce silicon feedstock for PV cells.
GT's Vice President for Polysilicon, David Keck, said: "We are pleased to be working with Shunda. We expect they will become a major producer of polysilicon in support of their PV wafer business."
Shunda's President, Ni Yunda, said: "GT Solar has the expertise to provide the equipment for the production of ultra-pure polysilicon. Their support is a key part of our production plans."
About Shunda Solar

Jiangsu Shunda Electronic Materials and Technology Company is a wholly owned subsidiary of Jiangsu Shunda Group Corporation located in Yangzhou, Jiangsu Province. Shunda Group is a leading high-technology enterprise focusing on the PV market. The company's rapid expansion in recent years has enabled it to produce single crystalline ingots, wafers, photovoltaic cells as well as photovoltaic modules. Shunda's recent investment of $2.3 billion RMB has resulted in setting their target to produce their own polysilicon in the near future, and to become a major player in the photovoltaic market. For more information, go to www.shundasolar.com.

About GT Solar

GT Solar Incorporated is a leading global provider of essential technology, equipment and turnkey manufacturing solutions across the photovoltaic supply chain. Based in Merrimack, NH (USA), the company's products include equipment used to produce multicrystalline solar wafers, cells, modules. GT Solar also manufactures polysilicon reactors, which allow its customers to produce the polysilicon from which solar wafers are made. For more information, go to www.gtsolar.com.

Forward Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. These statements are indicated by words such as "expect," "estimate," or similar expressions. In particular, this press release contains forward-looking statements about the expected future sales from the contract executed with Jiangsu. These statements are based upon information available to GT Solar's management as of the date hereof. Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including, but not limited to, the failure by either party to fulfill its obligations under such contract. GT Solar undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, except as required by law.

CONTACT: GT Solar Incorporated
Fred Kocher, 603-883-5200, Ext. 3812
kocher@gtsolar.com

Latest Press Release

Get the best of ALL worlds with our brand new Sunday Brunch

The World restaurant, the place in Bangkok to discover exquisite flavors and exotic cuisine from all corners or the globe, is launching a brand new brunch to be held on the second Sunday of every month. Spanning a 'live', cooked-by-order station, as well...

AXA Insurance Launched AXA Preferred Garage Program to Better Serve Its Car Insurance Customers

AXA Insurance, a leading general insurance provider in Thailand and a part of the Number ONE Global Insurance Brand for the 10th consecutive year1 launched 'AXA Preferred Garage' program, a collection of high-quality garages to better serve its car...

DGA เข้าร่วมงานสัมมนาวิชาการระดับนานาชาติด้าน Digital Transformation ระดับภูมิภาคเอเชีย โดยสถาบัน KIEA ประเทศเกาหลี

สำนักงานพัฒนารัฐบาลดิจิทัล (องค์การมหาชน) สพร. หรือ DGA ได้ร่วมแบ่งปันความรู้และประสบการณ์ทางในงานสัมมนาวิชาการระดับนานาชาติ "International Conference on 4th Industrial Revolution Technologies for National Information Management and Digital...

Malaysia vastly undercounting poverty, says UN rights expert

Malaysia lays claim to the world's lowest national poverty rate by using an unduly low poverty line that does not reflect the cost of living and by excluding vulnerable populations from its official figures, said UN human rights expert Philip Alston at...

UN Fact-Finding Mission on Myanmar Calls for Justice for Victims of Sexual and Gender-based Violence

The U.N. Independent International Fact-Finding Mission on Myanmar said the country's military must stop using sexual and gender-based violence to terrorise and punish ethnic minorities. The Mission said the brutal tactic was still being employed in...

Related Topics