Corning Scores $200m From Apple
Corning, the maker of glass used in iPhones and iPads, has garnered US$200 million as the first recipient of Apple’s Advanced Manufacturing Fund.
Corning, a long-time Apple partner, will spend the cash on equipment and glass-processing technology, mainly at its Harrodsburg, Kentucky, facility which developed the protective Gorilla Glass used on many smartphones, Apple said. Some of the money will also go toward research and development costs.
Apple CEO Tim Cook announced earlier in the month that the company plans to invest at least $1 billion backing advanced manufacturing companies in the US to help create jobs in the industry.