Semiconductors and Semiconductor Equipment
Company Overview of GT Advanced Technologies Inc.
GT Advanced Technologies Inc., a technology company, provides materials and equipment for the solar, light emitting diode (LED), and electronics industries worldwide. The company operates through three segments: Sapphire, Polysilicon, and Photovoltaic (PV). The Sapphire segment provides advanced sapphire crystallization furnace systems used to produce sapphire boules; and sapphire materials for a range of other industrial and consumer applications, including medical devices, dental, oil and gas, and watch crystals, as well as specialty optical applications, such as low absorption optical sapphire for advanced optics and Titanium-doped sapphire material for high power lasers. The Polysilicon ...
243 Daniel Webster Highway
Merrimack, NH 03054
Founded in 1994
Key Executives for GT Advanced Technologies Inc.
Chief Executive Officer and President
Chief Financial Officer and Vice President
Chief Administrative Officer, Vice President, General Counsel and Secretary
Compensation as of Fiscal Year 2016.
GT Advanced Technologies Inc. Key Developments
GT Advanced Technologies Announces Release of Next Generation Multicrystalline Furnace
May 9 16
GT Advanced Technologies Inc. announced that it will release its latest generation of multicrystalline ingot production furnace, the DSSTM20M, at SNEC Shanghai later in May 2016. The DSSTM20M, capable of producing more than 20MW of high efficiency ingots per year, is the sixth generation furnace in GT’s DSSTM family. GT will highlight this product at its SNEC booth (E3-008) and will have further information on the furnace and material grown from the furnace available for customers to evaluate.
GT Advanced Technologies Inc. Files Form 15
Mar 21 16
GT Advanced Technologies Inc. announced that it has filed Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock of par value $0.01 per share under the Securities Exchange Act of 1934, as amended.
First Amended Reorganization Plan Approved for GT Advanced Technologies Inc.
Mar 8 16
The US Bankruptcy Court approved the amended plan of reorganization of GT Advanced Technologies Inc. on March 8, 2016. The debtor had filed its revised amended plan in the Court on March 7, 2016. As per the amended plan filed, Administrative Expense Claims, Indenture Trustees Fees, Priority Non-Tax Claims of $1 million, Priority Tax Claims, Financing Support Parties Fees, Other Secured Claims of $1.7 million, DIP Facility Claims of $95 million, Professional Fee Claims and Inter-Company Claims will be paid in full in cash. GT Inc. General Unsecured Claim of $181.9 million will have a recovery of 0.16% amounting to $0.29 million. GT Inc. Notes Claims of $436.1 million will have a recovery of 0.16% amounting to $0.7 million in the form of cash and 21.6% equity. Corp Debtors General Unsecured Claims of $436.1 million will have a recovery of 2.43% amounting to $2.02 million in the form of cash and 62% equity. GT Hong Kong General Unsecured Claims of $436.1 million will have a recovery of 0.49% amounting to $0.53 million in the form of cash and 16.4% equity. Subordinated Securities Claim will not receive any distribution. GT Inc. Equity Interests and Intercompany Equity Interests will be cancelled and will not receive any distribution. The plan will be funded by cash in hand, common stock, warrants and preferred stock.
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