GT Advanced Technologies to Provide Large Diameter Sapphire Cores to Chongqing Silian Optoelectronics Science & Technology Co., Ltd. for Production of High Brightness LED Substrates

Published on Thursday, 09 February 2012 11:10 Written by TradersHuddle Staff

MERRIMACK, N.H.-( Business Wire )-

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.

“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 customers.

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.

Forward-Looking Statements

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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MediaGT Advanced TechnologiesJeff Nestel-Patt, 603-204-2883jeff.nestelpatt@gtat.comorInvestors/AnalystsGT Advanced TechnologiesRyan Blair, This e-mail address is being protected from spambots. You need JavaScript enabled to view it.