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G/GT Solar

GT Solar Receives $23.8 Million Order for DSS450HP Multicrystalline Ingot Growth Systems from Trina Solar

2010-12-23 15:48
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MERRIMACK, N.H.--(BUSINESS WIRE)--GT Solar International, Inc. (NASDAQ: SOLR), a global provider of polysilicon production technology, and sapphire and silicon crystalline growth systems and materials for the solar, LED and other specialty markets, today announced that it has received two orders totaling $23.8 million order from Trina Solar for its DSS450HP™ crystalline ingot growth systems. The orders will be included in GT Solar’s backlog for its current Q3 FY11, which ends on January 1, 2011.

“Trina Solar is one of the top ten PV cell and module manufacturers and we are pleased that they have selected our DSS450HP systems to meet their ingot growth production needs,” said Tom Gutierrez, GT Solar’s president and CEO. “Our crystalline ingot growth systems provide value to customers because of their proven performance and reliability and help PV manufacturers lower their cost of manufacturing.”

The additional DSS450HP systems will help Trina Solar achieve its goal of significantly expanding its manufacturing capacity. Since the introduction its first DSS240™ in 2003, the company has shipped over 2,000 systems primarily to manufacturers located in Asia. The company has made significant investments in customer service resources to support its growing installed base of customers throughout the Asia Pacific region. GT Solar’s installation teams can get customers up and running through a field-proven, fast commissioning process that reduces the time to volume production.

About GT Solar International, Inc.

GT Solar International, 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 Solar, please visit www.gtsolar.com.

About Trina Solar Limited

Trina Solar Limited (NYSE: TSL) is a leading manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.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 Solar International, Inc.’s 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 the fiscal 2010 filed on June 4, 2010 and quarterly report on Form 10-Q for the second fiscal quarter filed on November 9, 2010. GT Solar International, 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.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6553400&lang=en

Contacts

Media
GT Solar
Jeff Nestel-Patt, 603-204-2883
jeff.nestelpatt@gtsolar.com
or
Investors/Analysts
GT Solar
Ryan Blair, 603-681-3869
ryan.blair@gtsolar.com

 

GT Solar DSS450HP crystalline ingot growth system (Photo: Business Wire)