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GT Advanced Technologies Inc. said Tuesday it was not in a position to make money off its solar power business, asking a bankruptcy court to approve the assets’ sale to an affiliate of private equity firm Shah Capital Partners’ for $3.6 million.
GTAT filed court papers in New Hampshire outlining the proposed sale of assets related to the development of solar power technology to Merlin Solar Technologies Inc. The assets being sold primarily are intellectual property rights tied to the development of technology.
