GT Solar Receives $81.7M in New Orders for Polysilicon Produ

July 06, 2011

GT Solar (NASDAQ:SOLR) announced that it has received orders from two new customers in Asia for polysilicon production equipment totaling $81.7M. The recent orders include GT's hydrochlorination equipment used for the production of TCS as well as other polysilicon production equipment. The orders will be included in GT Solar's backlog for its first quarter of FY12, which ended on July 2.Dave Keck, vice president and general manager of GT Solar's polysilicon technology business unit said, "We are pleased to add two new customers to our growing family of polysilicon producers. 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 high purity silicon at one of the lowest costs in the industry."GT Solar International (NASDAQ:SOLR) has a potential upside of 2.4% based on a current price of $16.86 and an average consensus analyst price target of $17.27.