Company to Discuss Preliminary Results of Sapphire Mechanical Testing
NASHUA, N.H., May 20, 2013 (GLOBE NEWSWIRE ) — GT Advanced Technologies (Nasdaq:GTAT) is participating in the 2013 Society for Information Display’s Display Week event May 20-24 in Vancouver, BC. The company will be showcasing sapphire cover screens for smartphones and other mobile devices including touch panel demonstrations with sapphire screens developed by Atmel and Ocular that highlight sapphire touch sensitivity when integrated into a touch module. In addition, the company will be delivering presentations during Monday’s Business and Touch Gesture Motion conferences. The presentations will highlight results of recent sapphire material testing and provide an update on the progress being made in the development of an optimized fabrication value chain for delivering low-cost and high volume sapphire screen material.
GT is developing and investing in a number of innovative technologies that, when commercialized, will help to lower the cost of sapphire cover screens to levels that are competitive with reinforced glass material. GT continues to advance its ASF(R) sapphire growth furnace for the production of high volume, high quality sapphire material. In addition, the company’s recently announced acquisition of Thermal Technology broadens its sapphire equipment offerings with a sapphire annealing furnace that the company believes will be important in the manufacturing of sapphire cover screens. GT is also developing its Hyperion implant technology, which it expects could significantly lower the cost of sapphire cover screens by delivering thin, exfoliated sapphire substrates in high volumes.
GT is completing a series of third-party tests on sapphire cover screens to demonstrate how sapphire material compares with other glass cover solutions. Preliminary results of these tests will be presented in the Touch Gesture Motion Conference Monday, May 20. The presentation will be available on GT’s web site at [http://investor.gtat.com/events.cfm].
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.
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 integrate Thermal Technology products into its business operation; the Company’s ability to successfully develop Thermal Technology annealing furnace for use in sapphire cover screen manufacturing; the Company’s ability to successfully develop and deliver an annealing furnace; the company’s ability to develop and commercialize its Hyperion implant technology; and the Company’s ability to 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.