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MikeLC
FYI, their Market Capitalization is 1.2 billion dollars as of August 30th, 2010. ...
GT Solar buys firm
Mark LaPedus
7/30/2010 1:18 PM EDT
SAN JOSE, Calif. - GT Solar International Inc., a provider of photovoltaic manufacturing services for the solar industry, has acquired privately-held Crystal Systems Inc.
Crystal Systems is a crystalline growth technology company that manufactures high-quality, large area sapphire substrates used in the LED, defense, medical and aerospace industries.
Under the terms of the agreement, the purchase consideration consisted of approximately $24 million in cash, 5.4 million shares of GT Solar common stock and a $21 million cash earn-out. The cash earn-out provision is based on the attainment of certain financial and technical targets. Crystal Systems is a profitable company with expected revenues of approximately $16 million for the 2010 calendar year.
Crystal Systems is a crystalline growth technology company that manufactures high-quality, large area sapphire substrates used in the LED, defense, medical and aerospace industries.
Under the terms of the agreement, the purchase consideration consisted of approximately $24 million in cash, 5.4 million shares of GT Solar common stock and a $21 million cash earn-out. The cash earn-out provision is based on the attainment of certain financial and technical targets. Crystal Systems is a profitable company with expected revenues of approximately $16 million for the 2010 calendar year.
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MikeLC
8/30/2010 2:08 PM EDT
FYI, their Market Capitalization is 1.2 billion dollars as of August 30th, 2010. Apparently they create the ingots that are used by some other solar panel makers.
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