BEST announces large Asian order and third multi-year superconductor contract from MRI manufacturer

BILLERICA, USA: Bruker Energy & Supercon Technologies Inc. (BEST) 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 percent 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.”