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.
BILLERICA, Mass.--(BUSINESS WIRE)--Jan. 5, 2012-- 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.
CAUTIONARY STATEMENT OF BEST
This press release contains forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. In many cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential," "continue" or other similar words.
These forward-looking statements are predictions, not guarantees. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other important factors that may cause our actual results, levels of activity, performance or achievements to materially differ from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those projected, include, but are not limited to, the integration of businesses we have acquired or may acquire in the future, changing technologies, product development, the cost and pricing of our products, manufacturing, competition, dependence on collaborative partners and key suppliers, capital spending and government funding policies, changes in governmental regulations, intellectual property rights, litigation, and exposure to foreign currency fluctuations. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on these forward-looking statements as guarantees of future events.
The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.
Source: Bruker Energy & Supercon Technologies, Inc.
Bruker Energy & Supercon Technologies, Inc.Back
Burkhard Prause, Ph.D., +49 (0)6181 4384-4101
President and CEO