NASHUA, N.H., May 2, 2013 (GLOBE NEWSWIRE) -- GT Crystal Systems, a subsidiary of GT Advanced Technologies (Nasdaq:GTAT), today announced that it has agreed with Motorola Solutions to be the exclusive supplier of sapphire screens for Motorola's new MP6000 multi-plane bioptic imager. GT Crystal Systems will fabricate the 24 square inch sapphire components in its manufacturing facility located in Salem, Mass.
"This is an important development for us as it expands the adoption of our sapphire material into a new market segment," said Tom Gutierrez, GT's president and CEO. "GT's ASF sapphire is virtually scratch-proof, making it ideally suited as a screen material over reinforced glass because it can withstand the extreme strike forces the scanner system experiences during its use. The durability and optical performance of GT's ASF sapphire material has broad applicability in other cover and touch screen applications, and we are pursuing a number of these promising opportunities."
"Motorola's first imaging-based bioptic solution, the MP6000, enhances the user experience of retailers and consumers alike by enabling quick checkout and scanning of traditional paper-based bar codes as well as bar codes delivered on the screen of a mobile device," said Bob Sanders, senior vice president, Data Capture Solutions, Motorola Solutions. "GT's ASF sapphire provides the durability and longevity needed to ensure optimal performance."GT is actively pursuing markets for ASF grown sapphire material outside of the traditional LED and optical applications, including the smartphone segment. The company will exhibit and present its sapphire solutions at the Society for Information Display's Display Week show in Vancouver, Canada May 19-24. About GT Advanced Technologies Inc. GT Advanced Technologies Inc. is a diversified technology company with innovative crystal growth equipment and solutions for the global solar, LED and electronics industries. Our products accelerate the adoption of new advanced materials that improve performance and lower the cost of manufacturing. For additional information about GT Advanced Technologies, please visit www.gtat.com . Forward-Looking Statements Certain of the information in this press release relate to the Company's future expectations, plans and prospects for its business and industry that constitute "forward-looking statements" for the purposes of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to: the Company's ability to successfully deliver sapphire material as specified in the terms of the contract with Motorola Solutions; and, the Company's ability to successfully market its sapphire material to new market segments outside of its traditional LED and optical application segments. These forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside the Company's control, which could cause actual events to differ materially from those expressed or implied by the statements. Other factors that may cause actual events to differ materially from those expressed or implied by our forward-looking statements include the impact of continued decreased demand and/or excess capacity in the markets for the output of our solar and sapphire equipment, general economic conditions and the tightening credit market having an adverse impact on demand for the Company's products, the possibility that changes in government incentives may reduce demand for solar products, which would, in turn, reduce demand for our equipment, technological changes could render existing products or technologies obsolete, the Company may be unable to protect its intellectual property rights, competition from other manufacturers may increase, exchange rate fluctuations and conditions in the credit markets and economy may reduce demand for the Company's products and various other risks as outlined in GT Advanced Technologies Inc.'s filings with the Securities and Exchange Commission, including the statements under the heading "Risk Factors" in the company's annual report on Form 10-K for the transition period ended December 31, 2012. Statements in this press release should be evaluated in light of these important factors. The statements in this press release represent GT Advanced Technologies Inc.'s expectations and beliefs as of the date of this press release. GT Advanced Technologies Inc. anticipates that subsequent events and developments may cause these expectations and beliefs to change. GT Advanced Technologies Inc. is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
CONTACT: Media Jeff Nestel-Patt email@example.com 603-204-2883 Investors/Analysts Ryan Flaim firstname.lastname@example.org 603-681-3869
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts