GT Solar expands its line of credit

July 12, 2011

NH Business Review Staff,

GT Solar has quadrupled its credit line to keep up with expanding revenue and expenses, but it may have been one of the reasons the company’s stock price fell from all-time highs last week.The Merrimack-based maker of equipment for solar and LED lighting, has increased its ability to borrow from Credit Suisse AG to $100 million (as opposed to the previous $25 million.) The deal was signed on June 29, but announced July 6, and that’s when the stock fell.GT Solar has regularly been announcing orders in the $100 million over the past few months. The latest $81.7 million for solar equipment came on top of its largest order ever — a $460 million deal with a Chinese company for GT Solar furnaces that are used to produce sapphire crystals for LED lighting.Word of those deals drove the stock price up past $17.50, an all-time high. But the price fell back to the $16.50 range by week’s end. — BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW

Categories: News

More news from NHBR:

Benchmark at Rye completes expansion

Benchmark at Rye, an assisted living and mind and memory care community, opened a new 60,000-square-foot addition at its Route 1 campus, welcoming its first residents on May 1.

‘Barn Raiser’ celebrates NH’s outdoor industry

Hosted by the Granite Outdoor Alliance, an organization set on uniting and advancing the key players in New Hampshire’s outdoor industry, this year’s sold-out Barn Raiser on June 10 reflected the breadth of the outdoor sector, bringing together public officials, business leaders, recreation providers and nonprofit representatives, among other key figures.

NH welcomes Gen Z’ers — affordability challenges await

A new report says an influx of new Granite Staters is coming primarily from neighboring Massachusetts, and most of them are younger, part of Gen Z, the cohort of people born roughly between 1997 and 2012. But another report says the newbies, like already established residents here, face affordability challenges when it comes to housing and child care.

UNH's Voice Z Digital invites collaboration

UNH marketing program helps small businesses and students work together

Getting the ‘Edge’ on with United Way of Greater Nashua

The United Way of Greater Nashua aims to raise $175,000 this year through its biggest annual fundraiser June 22-23 at Brady Sullivan Plaza.

Bipartisan group seeks discussion and legislation on key NH issues

The recently formed New Hampshire Forum has been whittling down — from 18 to four to one or two — important issues that will be addressed in the 2027 session of the state Legislature.

A Perfect Neighborhood. Nicely Landscaped Front Yard Of Luxury Residential House For Sale

Are home prices closing in on a $600,000 median?

$1 million-plus sales are becoming more regular, according to New Hampshire Association of Realtors data

Analogic brings HQ — and more than 500 jobs — to Salem, NH

Analogic Corp. relocated from Peabody, Mass., to Salem, NH, in January. The privately held company designs and manufactures advanced imaging, detection and power technology for aviation security, health care and industrial markets. Its airport baggage screening systems are deployed in more than 26 countries.