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GT Solar International Inc. said Wednesday that it has received more than $84 million in orders for sapphire crystallization systems — its first orders for LED equipment.
The Merrimack, N.H.-based company, best known as a maker of manufacturing equipment for solar power technology, said the orders come from Jiangsu Jixing New Material Co. Ltd. and Jiujiang Sapphire Tech Co. Ltd., which will use the equipment in new production facilities.
GT Solar (Nasdaq: SOLR) said the two orders represent the company’s entry into the LED equipment market, which the company has been pursuing since its acquisition of Crystal Systems in July. The two initial customers are targeting the “high brightness” LED market, according to GT Solar.
Earlier this month, the company said it had reached an agreement to pay $203 million to re-purchase company stock from its private equity investors, in order to retire the shares.
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