GT Solar on LDK relationship

MERRIMACK, USA: GT Solar International Inc. issued the following statement concerning the announcement by LDK Solar that it has signed a contract to purchase JYT multicrystalline and monocrystalline furnaces.

According to the announcement, LDK Solar has been granted the exclusive right by JYT to purchase furnaces for the contract period, which extends through 2010.

Bob Woodbury, chief financial officer for GT Solar International, Inc. made the following statement.

“This announcement by LDK does not in any way impact GT Solar’s backlog, nor do we believe it will have any effect on our internal targets or projections. In fact, LDK Solar’s total orders represent less than 20 percent of our current backlog. Moreover, LDK’s furnace orders represent less than 8 percent of our current backlog.

“Additionally, GT Solar has and will continue to diversify its customer base. LDK Solar remains an important customer, and we continue to negotiate with them for future equipment needs related to multicrystalline furnaces and silicon reactors.”