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GT Solar to buy Crystal Systems, eyes LED market

Fri, 07/30/2010 - 9:27am
Reuters

NEW YORK (Reuters) - U.S. solar equipment maker GT Solar International Inc said on Friday it would buy privately held sapphire maker Crystal Systems for about $57.8 million in cash and stock, giving it a foothold in the fast-growing LED industry.

Light-emitting diodes, or LED, which consume less energy and last longer than incandescent and fluorescent lights, are seeing more demand in products like televisions and lighting fixtures as costs for power generation and concerns about greenhouse gas emissions rise.

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