News Article
Sapphire supplier GT Solar changes name
The company says its new name GT Advanced Technologies is now more closely aligned with its strategic vision and provides a new platform for it to grow and strengthen its global brand in markets such as LEDs
GT Advanced Technologies Inc. has announced the name change from GT Solar to its new name, GT Advanced Technologies Inc., is now complete.
As part of the rebranding and new corporate identity, the company is now trading under its new GTAT stock ticker symbol on NASDAQ.
“Our transition from GT Solar to GT Advanced Technologies reflects our broader strategic market focus,” said Tom Gutierrez, GT Advanced Technologies’ president and CEO. “We are growing beyond our historic focus on the solar industry to include other growth markets such as the LED industry. We also continue to look for strategic expansion opportunities into other adjacent markets that leverage our core competencies in crystal growth technology and the commercialisation of equipment that drives the growth of new industries. Our name is now more closely aligned with our strategic vision and provides a new platform for us to grow and strengthen our global brand.”
In July 2010, the company entered the fast-growing LED market through its acquisition of Crystal Systems, a pioneer in the field of crystallising sapphire material for a wide range of industries. GT is both a producer of sapphire material as well as a supplier of Advanced Sapphire Furnaces (ASF) which it sells to companies that produce sapphire material. Since the company introduced its ASF in December of 2010, it has booked nearly $1 billion in orders, quickly establishing itself as a leading provider of sapphire crystal growth equipment.