GT Solar (SOLR) Lands $55 Million Order From New Asia Customer

Details are few but GT Solar (SOLR) announced yesterday that it landed an order from a new customer in Asia for polysilicon production equipment totaling $55.1million.  The order will be for GT Solar’s entire suite of polysilicon production equipment to be used in the production of TCS, SDR reactors, filament and product processing equipment and other poly equipment.  No word on who the new customer is, but it’s likely a customer from China where the company has been landing quite a few orders. 

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“We are pleased to add this new customer to our growing family of polysilicon producers,” said Dave Keck, vice president and general manager of GT Solar’s polysilicon technology business unit. “As polysilicon prices continue to fall, producers must operate their plants at the highest levels of productivity and efficiency to remain profitable. Our polysilicon production equipment and technology enables customers to produce silicon at one of the lowest costs in the industry.”

Surprisingly, the stock hasn’t moved on this news and continues to digest the big gains in May and June.  In my opinion, this consolidation will offer an opportunity to get in on one of the top green stocks around.  I think it’s a bit too soon to jump in though because the stock is now trading below the 50 day moving average and may need to make a move back to its 200 day moving average.  Should that scenario play out, that would provide an outstanding long term entry point. 


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