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Stock Market & Financial Investment News

News Breaks
January 10, 2013
08:40 EDTGTATGT Advanced to idle HiCz materials pilot manufacturing facility in St. Louis, MO
GT Advanced Technologies is transitioning to a functional organizational structure from its prior business unit organization as it continues to streamline operations and position the company for growth once the markets it serves start to recover. Under the new structure, sales, service and worldwide operations will be centralized under the leadership of Dan Squiller, who will continue to report to president and CEO Tom Gutierrez. Dave Keck, formerly general manager, polysilicon and photovoltaic equipment, will lead the company’s sales and service across all businesses, reporting to Squiller. Jeff Ford, vice president of DSS business development, will continue to have responsibility for GT's DSS business, leveraging his extensive industry knowledge and experience to ensure that GT continues to support its DSS customer base as the company transitions to next generation PV technologies. As part of the reorganization of resources, the company is shifting final development and beta build activities for its HiCz product to its Merrimack, NH facility and will be idling its HiCz materials pilot manufacturing facility in St. Louis, MO. As a result, the company will layoff approximately 35 employees in St. Louis. These employees will be provided severance pay, health and dental benefits and outplacement services. GT remains committed to the commercialization of the HiCz platform, a next generation PV furnace that will produce N-type silicon wafers to help make more efficient solar cells, and improve the economics for PV manufacturers by lowering the cost per watt of solar energy. The company expects to be ready to offer the HiCz product by mid-2013, but given current market conditions in the PV industry, orders for the new generation systems may not occur until 2014 when the industry begins to recover.
News For GTAT From The Last 14 Days
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October 24, 2014
06:07 EDTGTATApple responds to GT Advanced's sapphire business exit, Re/code reports
Following GT Advanced's (GTAT) announcement to shut down factories in Mesa, Arizona and Salem, Massachusetts, an Apple (AAPL) spokeswoman said the company will continue evaluating GTAT's progress on larger sapphire boule development, reports Re/code. She said, "Apple put a lot of effort into an ambitious new sapphire manufacturing process with GTAT which is not ready for production. We’re going to continue evaluating GTAT’s progress on larger sapphire boule development, as well as consider other options for the facility. We remain committed to the city and we’re going to work with Mesa and Maricopa County to help the GT Advanced employees who will be impacted by this find new jobs.” Reference Link
October 23, 2014
09:19 EDTGTATGT Advanced to wind down operations at Mesa facility
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October 21, 2014
19:34 EDTGTATGT Advanced, Apple reach deal to 'wind down' sapphire plant, Philip DeWitt says
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10:29 EDTGTATGT Advanced expects settlement with Apple 'within hour,' Bloomberg reports
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October 15, 2014
06:37 EDTGTATGT Advanced executive sold shares before bankruptcy, WSJ says
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06:16 EDTGTATApple asks permission to lodge objections to GT bankrupcy in secret, Re/code says
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October 13, 2014
09:39 EDTGTATActive equity options trading on open
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