GT Advanced Technologies Acquires Thermal Technology LLC

GT Advanced Technologies Acquires Thermal Technology LLC

Thermal and Vacuum Technology Provider Will Continue GT's Diversification Into
New Markets With Innovative and Complementary Product Portfolio

NASHUA, N.H., May 16, 2013 (GLOBE NEWSWIRE) -- GT Advanced Technologies
(Nasdaq:GTAT), today announced that it has acquired substantially all of the
business of Thermal Technology LLC for purchase consideration consisting of
approximately 3.4 million shares of GTAT common stock and an earn out. Located
in Santa Rosa, CA, Thermal Technology develops and sells a wide range of high
temperature thermal and vacuum products used in the fabrication of advanced
materials that are deployed across multiple industries including smartphones
and touch screens, LED, medical devices, oil and gas and automotive to name a
few. Thermal Technology has delivered over 3,000 products to customers in over
40 countries since it was founded 60 years ago.

GT has acquired several key products and technologies that will allow GT to
address new markets with a range of production equipment options that can be
optimized around customers' specific needs. This includes annealing technology
that the company believes will be important in the manufacturing of sapphire
cover screens; crystal growth technology based on the Kyropoulous (KY) growth
method and edge defined film growth (EFG) technology for large surface area
sapphire. The company has also acquired Spark Plasma Sintering (SPS)
technology, which allows dense ceramics to be obtained under uniform heating
at relatively low temperatures and in short processing times. The SPS
technology is expected to have a wide range of applications including with
medical applications, sputtering targets, space applications and
thermoelectric convertors for hybrid electric cars.

"The acquisition of the Thermal Technology business adds a number of
innovative and important products and technologies to our rapidly diversifying
portfolio that will, we believe, allow us to accelerate our entrance into new
markets," said Tom Gutierrez, GT's president and CEO. "The acquisition expands
our served markets and complements several of our current product lines. In
areas such as sapphire crystal growth, we can now offer customers a wider
range of product options best suited to their specific production
environments. This will enable us to compete for incremental business in areas
where we would have previously been unable to offer a product."

"This is an exciting moment for the company, our employees and our customers,"
said Matt Mede, president and CEO of Thermal Technology. "The acquisition will
open new opportunities for growth for our products and technology as we
integrate them into GT's business operations. Leveraging GT's leadership in
engineering and product development and their strengths in low-cost global
supply chain management will accelerate the time-to-market of our technology
to drive market adoption in several promising markets as we go forward.
Customers will also benefit through GT's global service and support
capabilities."

GT does not expect the acquisition to materially impact its CY13 revenue or
earnings guidance range. The anticipated revenue contribution from the Thermal
Technology business in the balance of FY13 is approximately $9 to $14 million.
GT expects minimal impact on earnings per share as expenses and the increase
in share count will limit the contribution during the initial year of
integration. 

Friday, May 17, 2013, at 8:00am ET the company will host a conference call
with Tom Gutierrez, president and chief executive officer, and Richard Gaynor,
chief financial officer, to answer questions about the acquisition.The call
will be webcast live and can be accessed by logging on to the "Investors"
section of GT Advanced Technologies' website, http://investor.gtat.com/ or by
dialing (631) 291-4543. No password is required. A replay of the call will be
available. To access the replay, please go to http://investor.gtat.com/ and
select the webcast replay link on the 'Events and Presentations' page.

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.

Forward-Looking Statements

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: products that the Company has acquired by means of the
acquisition will allow the Company to address new markets with a range of
production equipment options that can be optimized around customer's specific
needs; the annealing technology acquired by the Company will be important in
the manufacturing of sapphire cover screens; Spark Plasma Sintering (SPS)
technology is expected to have a wide range of applications including with
medical applications, sputtering targets, space applications and
thermoelectric convertors for hybrid electric cars; Company believes that the
acquisition of the Thermal Technology business will allow the Company to
accelerate its entrance into new markets; the acquisition will enable the
Company to compete for incremental business in areas where it would have
previously been unable to offer a product; the acquisition will accelerate the
time-to-market of acquired technology to drive market adoption in several
promising markets; Company does not expect the acquisition to materially
impact the CY13 revenue or earnings guidance range; the anticipated revenue
contribution from the Thermal Technology business in the balance of FY13 is
approximately $9 to $14 million; the Company expects minimal impact on
earnings per share as expenses and the increase in share count will limit the
contribution during the initial year of integration; 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 EFG and KY products; 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 forward looking 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, intensifying trade disputes in the solar and
other markets, 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 quarterly report on Form 10-Q for
the three month period ended March 30, 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: Media
         Jeff Nestel-Patt
         jeff.nestelpatt@gtat.com
         603-204-2883
        
         Investors/Analysts
         Ryan Flaim
         ryan.flaim@gtat.com
         603-681-3869

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