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Technology Stocks : American Superconductor (AMSC)

AMSC 38.87

+6.3%

Nov 7 9:30 AM EST

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From: DanD	10/6/2010 1:50:29 PM
	of 973

Milestone for American Superconductor Boston Business Journal - by Kyle Alspach American Superconductor Corp. said Wednesday it has received the world’s largest order for high-temperature superconductor wire in a deal with a South Korean firm. The Devens, Mass.-based company said the Amperium wire is the company’s second generation of superconductor wire, and can conduct more than 100 times the electrical current of copper wire of the same dimensions. American Superconductor said it would begin shipping the order for three million meters of the wire to LS Cable Ltd. in 2012. In a statement, corporate communications director Jason Fredette said the size of the contract would not be disclosed for competitive reasons, but that “it’s safe to say that the order is worth tens of millions of dollars.” Dan McGahn, American Superconductor’s president and chief operating officer, said in the announcement that his company has now officially begun to tap into what the firm believes will be a multi-billion-dollar market for high-temperature superconductor wire. LS Cable, meanwhile, aims to become the leading provider of superconductor power cables for electric utilities worldwide, company president Jong-ho Son said. Sales of superconductor wire have taken a back seat at American Superconductor in recent years to the company’s wind turbine component business. Revenue during the quarter ended June 30 came in at $97.2 million, a 33 percent jump over the same period in the previous year - mostly on orders for wind turbine designs and controls systems from companies in China.

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