CERADYNE opens first solar energy ceramic-related factory in TIANJIN, CHINA
COSTA MESA, Calif.-Ceradyne, Inc. (Nasdaq: CRDN) announced today the opening ceremonies for its new 98,000 square foot factory in Tianjin, China. This newly constructed factory will produce high purity ceramic crucibles for the forming of large polysilicon ingots for use in the manufacturing of photovoltaic silicon solar cells.
The opening ceremonies were attended by local and other officials as well as customers, vendors and key Ceradyne executives, including Ceradyne CEO and Chairman of the Board, Joel P. Moskowitz. The facility, located on Ceradyne’s five-acre plot in Tianjin’s Tanggu National Marine High Tech Development Zone, will supply the exact components to its Chinese photovoltaic solar cell customer base as it is currently producing in Atlanta, Georgia, where the technology was developed. The Ceradyne Tianjin facility will be run by Ceradyne Chinese executives and engineers who have been trained by U.S. based Ceradyne Thermo Materials’ management for some time.
Bruce Lockhart, Ceradyne Vice President responsible for the Company’s solar energy efforts, commented: "This is a very exciting event for Ceradyne and particularly for Ceradyne Thermo Materials.
Only three years ago, we established a major dedicated facility in Atlanta for the development and manufacture of these high technology ceramic crucibles for sale to solar cell fabricators. This new Tianjin plant replicates the Atlanta plant, only it is much larger, to meet our Chinese customer requirements"
Ceradyne develops, manufactures, and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel, and commercial applications. Additional information about the Company can be found at www.ceradyne.com.
Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company’s Annual Report on Form 10-K for the fiscal year ended dated December 31, 2006 and its Quarterly Reports on Form 10-Q as filed with the U.S. Securities and Exchange Commission.
Joel P. Moskowitz, Chief Executive Officer
714-549-0421 ext. 8261
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