American Superconductor Receives Orders

Monday, March 31, 2003
American Superconductor Corporation has received orders for 279 miles of high temperature superconductor (HTS) wire during its fourth fiscal quarter. This is the largest amount of wire orders the company has received in one quarter. Orders received during the fourth quarter were from 11 different customers from four countries for multiple applications including motors, generators, power cables, industrial processing equipment and specialty electromagnets. AMSC delivered 88 km of the new wire orders in the quarter ending today and expects to deliver an additional 168 km from this backlog during the fiscal year ending March 31, 2004. The remainder will be backlog for the following fiscal year. Eric Snitgen, vice president and general manager of AMSC Wires, the company's business unit responsible for developing and manufacturing HTS wires, said the company has good visibility to orders for at least another 120 km of HTS wire in the first fiscal quarter ending June 30, 2003, with over half of those orders to be delivered by end of March 2004. "AMSC's commitment to manufacturing high quality, high performance HTS wire in commercial quantities at commercial prices is being recognized by the marketplace," said Snitgen. "Our wires meet a wide range of customer specifications for multiple applications, and our manufacturing capability allows us to deliver significant quantities of wire with an excellent turnaround time. Our new plant is designed for just-in-time expansion so we are able to increase our capacity to meet growth in demand."
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