27.11.2007: Meldung: GT Solar & Yingli Green Energy Sign Silicon Contract
GT Solar President and CEO, Tom Zarrella, said: “Yingli is a leader in the growth of solar energy production in Asia and throughout the world. Their purchase of our new DSS 450 furnace will provide up to 80% more capacity per cycle and within the same footprint of our prior generation furnace.”
Yingli Green Energy President, LianSheng Miao, said: “We have worked with GT Solar since 2002, and have built an important part of our business around their equipment. The contract will support us to ramp up our ingot capacity from current 200MW to 400MW by the end of 2008 and 600MW in 2009.”
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (“Yingli Green Energy”) is one of the leading vertically integrated photovoltaic (PV) product manufacturers in China. Through the Company’s principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis. With 200MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in China. Additionally, Yingli Green Energy is one of the limited number of large-scale PV companies in China to have adopted vertical integration as its business model. Yingli Green Energy currently plans to gradually expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400MW by the end of 2008 and to 600MW in 2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, China and the United States. For more information, go to www.yinglisolar.com.
About GT Solar Incorporated
GT Solar Incorporated, a wholly owned subsidiary of GT Solar International, is one of the largest providers of manufacturing equipment and turnkey manufacturing solutions across the photovoltaic supply chain. Based in Merrimack, NH (USA), the company’s products include equipment used to produce multi-crystalline solar wafers, cells and modules. GT Solar also manufactures polysilicon reactors which allow its customers to produce the polysilicon from which solar wafers are made. For more information, go to www.gtsolar.com.
This press release contains forward-looking statements that are subject to risks and uncertainties. These statements are indicated by words such as “expect,” estimate,” or similar expressions. In particular, this press release contains forward-looking statements about the expected future sales from the contract executed with Yingli Green Energy. These statements are based upon information available to GT Solar’s management as of the date hereof. Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including, but not limited to, the failure by either party to fulfill its obligations under such contract. GT Solar undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, except as required by law.
GT Solar Incorporated
Fred Kocher, 603-883-5200, Ext. 3812