Monday, October 24, 2005

Energy

AMSC picks distributor in Japan

Wesborough's American Superconductor Corp. has selected Suzuki Shokan Co. Ltd. as a distributor for its high temperature second-generation superconducting wire in Japan, one of the largest markets for superconductor wires in the world. Financial terms of the deal were not released.

Sectors such as power transmission, medical, industrial and transportation use these superconductors. The Japanese government has increased its spending to develop products that use second generation high temperature superconductor wires, company officials said.

American Superconductor has been working with Suzuki Shokan for the past decade, said Greg Yurek, president and chief executive officer of American Superconductor.

Shares of American Superconductor traded up 18 cents, or 2.2 percent, to $8.27 a share on the Nasdaq National Market at mid-morning.