GT Advanced Technologies : GT Advanced Technologies Announces Mesa ASF Furnaces to be Auctioned
(Thomson Reuters ONE) -
MERRIMACK, N.H., Nov. 13, 2015 (GLOBE NEWSWIRE) -- GT Advanced Technologies Inc.
(OTC:GTATQ), today announced that, on November 22-23, 2015, it will conduct an
auction of certain of its ASF sapphire growth furnaces currently located in
Mesa, Arizona, as well as a number of new furnaces in Hong Kong.
GT will retain the intellectual property related to the ASFs as well as the key
personnel necessary to support the installation and commissioning of the units
purchased in the auction. GT will provide such installation and commissioning
services on terms to be agreed with the buyers of the ASF units. "We will remain
active in the sapphire equipment business and look forward to better market
conditions in the future as the users of sapphire in the consumer electronics
and other industries innovate applications for the material," said David Keck,
CEO of GT.
The related settlement agreement, which provides for the auction, is subject to
approval by the U.S. Bankruptcy Court for the District of New Hampshire at a
hearing scheduled for November 19, 2015. The full text of the settlement
agreement was filed with the company's Form 8-K dated November 9, 2015.
Further details regarding the auction can be found at
http://www.bidindustrial.com.
Forward-Looking Statements
Some of the information in this press release relates to future expectations,
plans and prospects for the Company's 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. In some cases, forward-
looking statements can be identified by terminology such as "may," "will,"
"could," "should," "expect," "plan," "project," "intend," "anticipate,"
"believe," "estimate," "predict," "potential," "pursue," "target," "continue,"
the negative of such terms or other comparable terminology. Forward-looking
statements include, but are not limited to the following: GT will conduct an
auction of certain of its ASF sapphire growth furnaces currently located in
Mesa, as well as a number of new furnaces in Hong Kong; and "We will remain
active in the sapphire equipment business and look forward to better market
conditions in the future as the users of sapphire in the consumer electronics
and other industries innovate applications for the material". These forward-
looking statements are not a guarantee of performance and these statements
involve certain risks and uncertainties that may be beyond the Company's control
and may cause actual future results to differ materially from our current
expectations. The Company's ability to benefit from the settlement agreement and
continue operating in the sapphire business may depend on the approval of the
settlement agreement by the Bankruptcy Court and the availability of buyers
willing to purchase the ASF sapphire growth furnaces at prices satisfactory to
the Company. Other factors that may cause actual events to differ materially
from those expressed or implied by the forward-looking statements and various
other risks are outlined in the Company's filings with the Securities and
Exchange Commission, including (but not limited to) the statements under the
heading "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the
quarter ended June 28, 2014 and the Company's Annual Report on Form 10-K for the
fiscal year ended December 31, 2013. 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:
Allison Pellegrino
allison.pellegrino(at)gtat.com
+1-603-681-3910
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: GT Advanced Technologies via GlobeNewswire
[HUG#1966869]
Datum: 13.11.2015 - 22:13 Uhr
Sprache: Deutsch
News-ID 434606
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Kategorie:
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