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GT Solar gets $82 million orders; shares hit life-high
July 5, 2011 / 5:52 PM / 6 years ago

GT Solar gets $82 million orders; shares hit life-high

BANGALORE (Reuters) - Solar and LED equipment maker GT Solar International Inc said it received orders worth $81.7 million for polysilicon production equipment from two new Asian customers, sending its shares to their lifetime high.

<p>GT Solar Chief Executive Tom Gutierrez speaks during an interview with Reuters in Hong Kong October 12, 2010. REUTERS/Tyrone Siu</p>

The orders will be included in GT Solar’s backlog for the first quarter ending July 2, the Merrimack, New Hampshire-based company said.

Last week, GT Solar received its largest ever order worth $460.4 million from a Chinese customer for its furnaces used in sapphire production.

In May, the company had said it expected to book a majority of its new orders in the second quarter and upped its earnings, revenue and margin outlook for fiscal 2012.

GT Solar shares were up 6 percent at $17.10 in Tuesday afternoon trade on Nasdaq. Earlier in the day, they touched a high of $17.17.

Reporting by Vaishnavi Bala in Bangalore; Editing by Maju Samuel

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