(BW)(NH-GT-SOLAR)(SOLR.NASDAQ) GT Solar Announces Next Generation STC Converter for Direct Chlorination
Polysilicon Plants Company Also Rolls Out New Productivity Partnering Service Program for DSS Furnace Customers Business Editors
MERRIMACK, N.H.--(BUSINESS WIRE) - Feb. 21, 2011-- 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, announced today at the SNEC industry trade show in Shanghai, China, its next generation silicon tetrachloride (STC) converter for polysilicon production plants using direct chlorination for hydrogenating STC. The new STC converter offers companies operating older, direct chlorination polysilicon plants, a cost-effective upgrade path for increasing production capacity and reducing annual operating costs, which will lower the overall cost/kilogram of polysilicon produced. Each converter has the capacity to support up to 2,500 tons of annual polysilicon production. The expected plant operating cost savings will repay the investment of replacing older generation converters in less than 18 months.
"One new, high-efficient STC converter replaces approximately six older generation converters. This significantly reduces converter maintenance costs and lowers the plant's power consumption," said Dave Keck, vice president and general manager of GT Solar's Polysilicon Business Unit.
"We are committed to helping our customers improve their competitive position by providing the technology and engineering services they need to produce high quality polysilicon at lowest price/kilogram possible.
Our new STC converters will help customers operating older, direct chlorination plants achieve this goal."
GT Solar also announced a new service program designed to improve productivity and operational performance of its growing base of DSS furnace customers. Customers enrolled in the Productivity Partner Program will have easy access to GT Solar's consumables and genuine GT Solar parts inventory. The program also offers access to equipment process knowledge and expertise through GT Solar's Asia-based advanced technology team, to ensure that a customer's DSS furnaces function at peak performance levels maximizing the amount of good kilograms of material produced.
"The Productivity Partner Program is a new GT Solar service product that builds successful, long term strategic relationships with our DSS customers throughout the entire lifecycle of the product, something we call the seasons of ownership," said Ed Samaha, GT Solar's vice president of worldwide service. "The program is a win?win for both our DSS customers and GT Solar as we work together to ensure that our customers' DSS furnaces are continuously performing at their optimum productivity level and maximizing their return on investment."
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.
Forward-Looking StatementsSome of the statements in this press release are forward-looking in nature, including, but not limited to the performance of STC converters when used by customers and their ability to lower customer costs and improve a customer's competitive position. 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 fiscal 2010 filed on June 4, 2010, and the quarterly report on Form 10-Q for the third quarter of fiscal 2011 filed on February 10, 2011. 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.
KEYWORD: United States Europe Asia Pacific North America China New Hampshire South Korea
INDUSTRY KEYWORD: Energy Alternative Energy Technology Other Technology Manufacturing Other Manufacturing Professional Services Banking Finance
CATEGORY KEYWORD: Product/Service
Source: GT Solar International, Inc.
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