Apple Invests $200 Million in Corning as First Advanced Manufacturing Fund Investment

[Maura]

Apple has today announced that it has awarded Gorilla Glass company Corning Incorporated $200 Million from its new Advanced Manufacturing Fund as part of its initiative to foster innovation among American manufacturers. The investment will go towards supporting Corning’s R&D, capital equipment needs, and state-of-the-art glass processing. Corning’s Harrodsburg, Kentucky, facility has played an important part in Apple and Corning’s 10-year collaboration and will be the main focus of Apple’s investment.

“Corning is a great example of a supplier that has continued to innovate and they are one of Apple's long-standing suppliers,” said Jeff Williams, Apple’s chief operating officer. “This partnership started 10 years ago with the very first iPhone, and today every customer that buys an iPhone or iPad anywhere in the world touches glass that was developed in America. We’re extremely proud of our collaboration over the years and we are investing further with Corning who has such a rich legacy of innovative manufacturing practices.”

Apple has made a commitment to invest at least $1 billion with US-based companies as part of its Advanced Manufacturing Fund, which it says is designed to encourage innovative production and highly skilled jobs to help build the foundations of a new era of technology-driven manufacturing in the US.

“Corning’s longstanding relationship with Apple has not only led to significant glass innovations that have enabled new capabilities for consumers, it has also helped create nearly 1,000 American jobs and allowed us to continue growing and expanding in the US,” said Wendell P. Weeks, Corning’s chairman, chief executive officer and president. “This investment will ensure our plant in Harrodsburg remains a global center of excellence for glass technology.”

Source: Apple