GT Solar (SOLR) Snags $70 Million Contract From Asian Manufacturer

GT Solar just announced a new $70 million contract with a large Asian polysilicon manufacturer.  Under the terms of the agreement, GT will provide the manufacturer with new CVD equipment and other  services related to the production on polysilicon.

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In a press release, Tom Gutierrez, president and chief executive officer of GT Solar, commented on the news:

"We are pleased to announce this new order for our polysilicon production equipment to one of Asia’s leading producers. The polysilicon market is ultimately a commodity market that will eventually be dominated by large, low-cost players. As polysilicon prices continue to decline, our polysilicon reactors, production services and process know-how play a significant role in helping our customers achieve the scale and cost structures they need to remain competitive in a price-sensitive market."

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