GT Advanced Tech (GTAT) Comments on Anti-Dumping Tariff Decision; Reaffirms Outlook
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GT Advanced Technologies (Nasdaq: GTAT) issued the statement below regarding the Commerce Department’s decision announced last week regarding duties on Chinese imports of solar panels to the U.S.:
“The decision announced last week by the Department of Commerce was largely in line with GT’s expectations. While we continue to think that this action is not in the best interests of the overall solar industry, the impact on GT Advanced Technologies has been fully factored into the calendar year 2012 guidance that we provided during our quarterly conference call on May 17, 2012,” said Tom Gutierrez president and chief executive officer of GT Advanced Technologies.
“GT continues to aggressively pursue potential incremental opportunities for PV equipment sales in markets outside of China, such as Taiwan, Malaysia and the Middle East. We also remain focused on executing on our strategy of providing manufacturers worldwide with best–in-class technologies that lower cost, improve efficiencies and enable growth, while also further diversifying our company in high-growth markets such as the power electronics industry.”
“The decision announced last week by the Department of Commerce was largely in line with GT’s expectations. While we continue to think that this action is not in the best interests of the overall solar industry, the impact on GT Advanced Technologies has been fully factored into the calendar year 2012 guidance that we provided during our quarterly conference call on May 17, 2012,” said Tom Gutierrez president and chief executive officer of GT Advanced Technologies.
“GT continues to aggressively pursue potential incremental opportunities for PV equipment sales in markets outside of China, such as Taiwan, Malaysia and the Middle East. We also remain focused on executing on our strategy of providing manufacturers worldwide with best–in-class technologies that lower cost, improve efficiencies and enable growth, while also further diversifying our company in high-growth markets such as the power electronics industry.”
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