Company: GT Solar International Inc. Merrimack, NH
Entry Submitted By: Hill & Knowlton
Company Description: GT Solar International, Inc. is a provider of specialized manufacturing equipment and services essential for the production of photovoltaic wafers, cells and modules, and polysilicon, all of which are used to produce the solar cells that convert sunlight directly into electricity.
Nomination Category: Company Categories
Nomination Sub Category: Fastest-Growing Company of the Year
Nomination Title: GT Solar – the Fastest Growing Company in the U.S.
Tell the story about what this nominated company achieved since January 1 2008 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
During its more than 15 years serving the solar power industry, GT Solar has
developed a global reputation as a provider of value-added process design
expertise and high quality equipment.
This reputation, coupled with GT Solar’s in-depth technical know-how, service
capabilities and industry-leading technology, has enabled GT Solar to establish
relationships with many of the world’s most influential photovoltaic
manufactures. As a result, GT Solar is today the global market leader in
polysilicon reactors and converters, and multi-crystalline furnaces – essential
technologies for the production of solar cells and panels. It is also
delivering premium standalone and turnkey solutions for every process involved
in the photovoltaic (PV) manufacturing chain.
GT Solar has recently achieved some significant milestones. Despite the
challenging and unprecedented economic climate, the company’s latest quarterly
results included revenue of $140 million, which was up 71 percent year-over-
year, a backlog of $1.4 billion, and net income of $279 million.
Our financial success and our need to meet expanding global demand for our
manufacturing equipment and technology and improve cycle times, drove us to
expand our corporate headquarters and photovoltaic equipment manufacturing
facility. Earlier this fall, we completed a 50,000 square foot expansion,
which nearly doubled our facility size, and provided a platform upon which we
could continue to grow our business, improve our flow of materials, and achieve
higher production efficiencies.
Our expanded photovoltaic equipment manufacturing facility and corporate
headquarters includes a number of green technologies, such as: energy-efficient
HVAC units with digital central controls; skylights over the office area for
natural lighting; collection and use of rainwater for irrigation; cubicles
constructed from recycled fabrics; sound absorption from recycled slag and
basalt rock; powder coating without harmful volatile organic compounds
(VOC’s);T5 and T8 fluorescent lights; occupancy sensors in offices and shop;
CO2 sensors in office areas; and, structural steel from recycled metals.
Our new facilities, as well as our substantial increase in revenue, have put GT
Solar into hyper-growth mode. We’ve hired more than 100 employees since
January 1, 2008, and continue to add six new hires per month. This increase in
human capital will help us meet the continually growing demand for our products
and services, as well as provide local jobs in the New Hampshire community.
Also, by collaborating with customers around the world, we have become agile in
creating leading edge technologies for diverse PV market needs while keeping
our competitive cost advantage. Overall, the solar industry has been expanding
globally, and especially the photovoltaic production, in which GT Solar has
expertise. We are a fast growing company led by a team of individuals with
comprehensive experience in the photovoltaic business and related areas of
process and automation technology.
List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
Provide a brief (up to 100 words) biography about the leader of this nominated company:
Thomas M. Zarrella is GT Solar’s president and chief executive officer, and a
director on the company’s board. Zarrella has more than 25 years of
international operations experience that spans many facets of technology
manufacturing. Before joining GT Solar, he headed Schott Solar AG's
manufacturing operations in Billerica, Massachusetts, where he was instrumental
in transforming the research and development oriented company into a leading
full-scale manufacturer of photovoltaic products. Zarrella previously directed
the North American manufacturing operations for Instron Corporation. He also
held corporate and operational positions of increasing responsibility at
several companies, including Revere Corporation, Sprague Meter and Sikorsky