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.
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Source: Bruker Energy & Supercon Technologies, Inc.
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Burkhard Prause, Ph.D., +49 (0)6181 4384-4101
President and CEO