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

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09:52:55 pm on February 17, 2010

GT Solar (SOLR) has announced a $20 million order from Jiangxi Sornid Hi-Tech for GT Solar’s GT-DSS450 ingot growth furnaces and ancillary equipment and services.  Revenues are expected to be recognized in future quarters.

SOLR CEO Tom Gutierrez commented on the growth in China, saying, “We are seeing an increase in bookings for our GT-DSS450 furnaces in China as customers begin to add new production capacity to position themselves for the next phase of growth in the worldwide solar industry. Over the past year we have significantly expanded our service and support capabilities in China to better serve our growing base of customers in this key strategic market. We are pleased to have this repeat order from Sornid.”

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

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