Science & Technology
Science and Technology
Science and Technology
Mon, February 9, 2009 GT Solar Names David Gray, Ph.D. Vice President, Strategic Development
MERRIMACK, N.H.--([ BUSINESS WIRE ])--GT Solar International, Inc. (NASDAQ: SOLR), a global provider of specialized equipment and technology for the solar power industry, today announced that it has appointed David Gray, Ph.D., to the newly created position of vice president, strategic development.
Dr. Gray will spearhead the company's non-organic growth initiatives, focusing on the acquisition of complementary products and technology, and will also support the development and execution of business strategies to drive organic growth. He will report directly to Tom Zarrella, GT Solar's president and chief executive officer.
"Our strong balance sheet puts us in a position to grow our company organically and through the acquisition of complementary businesses and technologies," said Zarrella. "David is a passionate professional with a significant amount of merger and acquisition experience and a demonstrated ability to execute. He will be a valuable addition to our team, and I look forward to his contributions as we continue to focus on profitably expanding our business."
Dr. Gray was most recently a managing director and head of technology mergers and acquisitions at Canaccord Adams, an investment banking firm. He previously served as managing director of SVB Alliant, the investment-banking arm of SVB Financial Group, where he founded and grew the company's East Coast office, focusing on technology and life sciences mergers and acquisitions and private capital. In his prior position as a principal at Broadview International, Dr. Gray provided strategic advisory services to public and private technology firms and led execution on a wide range of successful technology transactions. He began his career as a chemical engineer and then founded Aspect International, an engineering design firm focused on the development and licensing of advanced semiconductor process equipment.
Dr. Gray received his Bachelor of Science degree summa cum laude from Carnegie Mellon University. He holds a master's degree in business administration from Stanford University and a doctorate degree in chemical engineering/semiconductor processing from Massachusetts Institute of Technology (MIT). Dr. Gray also holds several patents and has authored 12 major technical publications.
About GT Solar International, Inc.
GT Solar International, Inc. (NASDAQ: SOLR) is a leading global provider of specialized manufacturing equipment and services essential for the production of photovoltaic wafers, cells and modules and polysilicon for the solar power industry. The company's principal products are directional solidification systems and chemical vapor deposition reactors and related equipment. For additional information about GT Solar, please visit [ www.gtsolar.com ].
Forward-Looking Statements
Some of the statements in this press release are forward looking in nature. These statements are based on management's current expectations or beliefs. 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 our control, which could cause actual events to differ materially from those expressed or implied by the statements. These factors may include our inability to manage our expansion effectively, the possibility of product liability claims, our inability to protect our intellectual property rights, increased competition from other manufacturers of equipment for PV products, changes in the PV industry, risks associated with doing business in foreign countries and various other risks as outlined in GT Solar International, Inc.'s filings with the Securities and Exchange Commission, including the Company's Prospectus dated July 23, 2008 and filed pursuant to Rule 424(b) under the Securities Act, as amended, on July 24, 2008, and the Company's Quarterly Report on Form 10-Q filed on February 6, 2009. Statements in this press release should be evaluated in light of these important factors. GT Solar International, 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.
