GT Advanced Technologies Notes Korean Order


GT Advanced Technologies Inc. says it has received $33 million in additional bookings from Korea-based polysilicon producer OCI Co. Ltd., resulting from OCI's exercise of an option under a previously announced contract to support its Phase 4 expansion. OCI's Phase 4 expansion will add 20,000 metric tons of additional capacity when it is completed, bringing OCI's total production polysilicon capacity to 62,000 metric tons annually.

The additional bookings raise the value of the original contract, which was announced on May 18, to $269 million for polysilicon production equipment and technology. The original contract was based on pricing related to an option for OCI to purchase GT's newest-generation SDR reactors, if the new reactors met OCI's technical and performance requirements after their internal testing. OCI recently decided to purchase the newest reactors, triggering the increase in bookings.

The additional $33 million will be included in GT's backlog for its second quarter of fiscal-year 2012, which ends on Oct. 1.

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