While Applied Materials’ chip-equipment-making business has struggled, according to MarketWatch, net sales for its energy and environment solutions group more than tripled on year to $122 million in the company’s fiscal first quarter, even as the chip-equipment maker reported a 35 percent drop in profit due to the overall weakness in the semiconductor industry.
Earlier this month, the company said it had signed agreements worth $1.9 billion to install equipment for “multiple solar factories” for an unnamed private corporation based outside the U.S. A Citigroup analyst speculated that it is part of a major project in Suzhou, China.
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