GT Solar Announces Multi-Year Sapphire Material Contract With Exotic Electro-Optics

Adding ticker searchability for II-VI Incorporated (NASDAQ: IIVI).

The corrected release reads:

GT SOLAR ANNOUNCES MULTI-YEAR SAPPHIRE MATERIAL CONTRACT WITH EXOTIC ELECTRO-OPTICS

Large 13-inch sapphire blanks targeted for US-based defense program

GT Solar International, Inc. (NASDAQ: SOLR), a global provider of polysilicon production technology, and sapphire and silicon crystalline growth systems and materials for the solar, LED and other specialty markets, today announced that its subsidiary, GT Crystal Systems LLC, has signed a multi-year contract valued at $3.75 million with Exotic Electro-Optics, Inc., (EEO), a subsidiary of II-VI Incorporated (NASDAQ: IIVI). Under the terms of the contract, GT Crystal Systems will provide large sapphire blanks to EEO for a US-based defense program. The sapphire material will be produced in GT’s recently expanded, state-of-the-art manufacturing facility located in Salem, Massachusetts.

“The optical performance of the sapphire material is critical to meeting the demanding requirements for this program,” said Andrew Riser, General Manager of Exotic Electro-Optics. “GT Crystal Systems has proven over the years that they can deliver the high quality sapphire material we need to engineer precision optical solutions and meet our cost requirements as well.”

“We are pleased that Exotic Electro-Optics has selected GT Crystal Systems and we look forward to continuing our relationship in the years to come,” said Cheryl Diuguid, vice president and general manager of GT Solar’s sapphire material and equipment business unit. “Our ASF-grown sapphire material is recognized worldwide for its high quality optical performance that can support the most stringent applications. The scalability of our ASF crystal growth technology allows us to produce sapphire material capable of meeting the large diameters required for this program.”

EEO is a leading supplier of state-of-the-art infrared optics, coatings and assemblies for aerospace, defense, and commercial markets. They will utilize the large 13-inch sapphire blanks to fabricate high performance sapphire windows for a multi-spectral aerospace application. The sapphire blanks contain high quality sapphire material which exhibits uniform crystalline structure without visible inclusions. Delivery of the material began in June of this year.

About GT Solar International, Inc.

GT Solar International, Inc. (NASDAQ: SOLR), is a global provider of polysilicon production technology, and sapphire and silicon crystalline growth systems and materials for the solar, LED and other specialty markets. The company's products and services allow its customers to optimize their manufacturing environments and lower their cost of ownership. GT Solar has begun the process of changing the company name to GT Advanced Technologies as it establishes a new global brand. The new name reflects the broader range of markets and technologies the company now addresses since its acquisition of Crystal Systems in July of 2010. The transition to GT Advanced Technologies is expected to be completed in August 2011. For additional information about GT Solar, please visit www.gtsolar.com.

Forward-Looking Statements

Some of the statements in this press release are forward-looking in nature, including statements regarding expected revenue from customer contracts. These statements are based on management’s current expectations or beliefs. 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. Factors that may cause actual events to differ materially from those expressed or implied by our forward-looking statements include the possibility that the Company is unable to recognize revenue on customer contracts, that 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 Solar International, 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 fiscal 2011 filed on May 26, 2011. GT Solar International, 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.

Copyright Business Wire 2010

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