Bruker Energy & Supercon Technologies (BEST) Announces New Large Asian Order & Third Multi-Year Superconductor Contract from ...
05 January 2012 - 11:00PM
Business Wire
Bruker Energy & Supercon Technologies, Inc. (BEST) today
announced that it has received a large order for its metallic,
low-temperature superconductors (LTS) from an Asian manufacturer of
magnetic resonance imaging (MRI) magnets, as well as a third large,
multi-year LTS contract from a major clinical MRI manufacturer.
These new contracts add more than $40 million in additional
minimum order commitments on top of the $71 million in minimum
purchase commitments from two other leading MRI manufacturers,
which BEST announced on November 1, 2011.
The latest multi-year LTS wire contract brings the total
long-term LTS order value received by BEST over the last several
months for clinical MRI magnets to more than $110 million, which is
expected to be recognized as revenue during 2012, 2013 and 2014.
Actual purchases of LTS on the three multi-year contracts may range
up to 25% above the minimum commitment levels.
Dr. André Aubele, VP of Business Development at BEST, commented:
“The new order from Asia gives us an expanded footprint in the fast
growing Asian market. The third multi-year contract further secures
the expansion of our LTS production capacity in support of our
major clinical MRI customers.”
Dr. Burkhard Prause, President and CEO of BEST, added: “We are
very pleased with the positive effect these contracts are having on
BEST’s multi-year backlog position. Our business with clinical MRI
customers has grown substantially over the last two years, and our
customers continue to show confidence in BEST as a long-term
provider of high-quality, high-performance superconductors.”
About Bruker Energy & Supercon Technologies, Inc.
(BEST)
BEST is a subsidiary of Bruker Corporation (NASDAQ: BRKR), and
is a leader in the development and industrial manufacturing of
advanced superconducting materials and superconducting devices for
alternative energy, smart grid, healthcare and ‘big science’
applications. For more information on BEST, please visit
www.bruker-est.com.
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