GT Solar Incorporated, a key global provider of a comprehensive
range of equipment and turnkey manufacturing solutions to the solar
power industry, announced today it has signed a follow-on contract
valued at approximately $200 million to supply DC Chemical Co., Ltd.
(DCC) of South Korea with polysilicon reactors. The equipment will be
used by DCC to expand their facility in Gunsan, South Korea. This
represents the largest single order received by GT Solar to date.
The contract is for GT´s chemical vapor deposition polysilicon
reactor. GT´s latest technology reactor incorporates design
improvements that increase reliability and boost polysilicon
production by more than 30% over the previous design.
GT Solar CEO, Thomas Zarrella, noted, "This contract is a major
validation of our innovation and insight into the evolving needs of
the solar power industry. By helping to alleviate what has been a
global shortage of polysilicon over the past several years, GT Solar
has helped foster greater industry growth while diversifying its own
product mix."
GT´s VP for Polysilicon, David Keck, said: "DCC is one of the
largest new entrants into the polysilicon market and is an important
client to our team here at GT Solar. We are delighted to be able to
continue to meet the demands of an important repeat customer like DCC.
We look forward to continuing this collaboration in the future."
DCC Vice Chairman, Mr. Shin, noted, "As a customer of GT Solar, we
have come to value GT and look forward to continuing our relationship
as we work to meet the ever growing needs of the solar power
industry."
About GT Solar Incorporated
GT Solar Incorporated is a wholly owned subsidiary of GT Solar
International, and is a key global provider of manufacturing
equipment, technology and turnkey manufacturing solutions across the
photovoltaic supply chain. Based in Merrimack, New Hampshire, (USA),
the company´s products include equipment used to produce
multi-crystalline solar wafers, cells and modules. GT Solar also
manufactures polysilicon reactors, which allow its customers to
produce polysilicon from which solar wafers are made. For more
information, go to www.gtsolar.com.
About DC Chemical
DC Chemical Co., Ltd (KRX:10060) is a leading Korean chemicals
producer with annual consolidated revenues of approximately $3.0
billion and engages in a wide range of disciplines, such as inorganic
chemicals, petro and coal chemicals and fine chemicals. DC Chemical´s
major products include carbon black, soda ash, hydrogen peroxide,
sodium carbonate peroxyhydrate and pitch. As a global enterprise, DC
Chemical has nurtured a strong competitive edge in various industrial
fields. DC Chemical completed its 5000 mt polysilicon Phase 1 plant in
December 2007 and plans to enter into commercial production in March
2008.
Forward-Looking Statement
This press release contains forward-looking statements that are
subject to risks and uncertainties. These statements are indicated by
words such as "expect," "estimate," or similar expressions. In
particular, this press release contains forward-looking statements
about the expected future sales from the contract executed with DC
Chemical for approximately $200 million. These statements are based
upon information available to GT Solar´s management as of the date
hereof. Actual results may differ materially from the anticipated
results because of certain risks and uncertainties, including, but not
limited to, the failure by either party to fulfill its obligations
under such contract. GT Solar undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time, except as required by law.
