GT Solar signs new contracts worth more than $200 million
By APFriday, February 26, 2010
GT Solar signs new contracts worth more than $200M
MERRIMACK, N.H. — GT Solar International Inc. said Friday it has signed contracts worth more than $200 million to provide equipment and services to a large Chinese customer, which it didn’t name, as well as other companies.
GT Solar makes equipment and develops technology for the solar power industry. The company said the contracts include a $137 million follow-up order from the Chinese customer, as well as orders from Tianwei New Energy Holdings Co., Phoenix Photovoltaic Technology Co., Yingli Green Energy Holding Co., JA Solar Holding Co, Ltd., Taiwan-based Sino-American Silicon Products and one other customer.
The orders were booked in GT Solar’s current, fourth fiscal quarter and revenue will be recognized in future periods.
Shares slid 9 cents to $5.95 in afternoon trading.
