GT Solar gets largest ever order of $460.4 million

(Reuters) – GT Solar International Inc, a solar and LED equipment maker, said it received its largest ever order worth $460.4 million from a Chinese customer for its furnaces used in sapphire production.

The order will be included in the company’s backlog for the fiscal first quarter ending July 2, GT Solar said in a statement.

The unnamed customer is a manufacturing company that is a new entrant to the LED industry, GT said.

Sapphire wafers are used in making LEDs.

Merrimack, New Hampshire-based GT Solar last month raised its outlook for earnings, revenue and margin for fiscal 2012 on a string of recent orders.

Shares of the company were up 9 percent at $13.11 before the bell on Friday.


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