GT Solar (SOLR) Gets $20 Million Solar Ingot Furnace Deal In China $solr

18 February of 2010 by

GT Solar (SOLR) has announced a $20 million order from Jiangxi SornidHi-Tech for GT Solar’s GT-DSS450 ingot growth furnaces and ancillaryequipment and services.  Revenues are expected to be recognized infuture quarters.

SOLR CEO Tom Gutierrez commented on the growth in China,saying, “We are seeing an increase in bookings for our GT-DSS450furnaces in China as customers begin to add new production capacity toposition themselves for the next phase of growth in the worldwide solarindustry. Over the past year we have significantly expanded our serviceand support capabilities in China to better serve our growing base ofcustomers in this key strategic market. We are pleased to have thisrepeat order from Sornid.”

Shares of SOLR are up about 3% in after hours trading.

 

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