Apple today announced Corning Incorporated will receive $200 million from Apple’s new Advanced Manufacturing Fund as part of the company’s commitment to foster innovation among American manufacturers. The investment will support Corning’s R&D, capital equipment needs and state-of-the-art glass processing. Corning’s 65-year-old Harrodsburg facility has been integral to the 10-year collaboration between these two innovative companies and will be the 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, in a statement. “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 committed to investing at least $1 billion with US-based companies as part of the fund, which is designed to foster innovative production and highly skilled jobs that will help lay the foundation for 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, in a statement. “This investment will ensure our plant in Harrodsburg remains a global center of excellence for glass technology.”
In the US, Apple now supports 2 million jobs across all 50 states, including 450,000 jobs attributable to Apple’s spend and investment with US-based suppliers. Last year alone, Apple spent over $50 billion with more than 9,000 domestic suppliers and manufacturers.
Since the inception of Gorilla Glass in 2007, the partnership between Apple and Corning has created and sustained nearly 1,000 US jobs across Corning’s R&D, manufacturing and commercial functions, including over 400 in Harrodsburg. Corning has procured enough renewable energy to cover all of its Apple manufacturing in the US.
Source: Apple Inc.
MacDailyNews Take: Congrats, Corning!
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Wasn’t long ago that the news (or at least rumours) were that there was bad blood between Corning and Apple even stabbing in the back with all its dealings with other end users re Gorilla Glass. One presumes that either those stories were untrue or things have got back on track.
Apple and Cornig never had an exclusivity agreement, so there was no much “bad blood” about it. Besides, for about two years by now Apple does not use Gorilla Glass in iPhones 6/s and newer models, but uses its own formulae/technological process. Cornig now is only contractor manufacturer, just as Apple’s other supplier, Asahi Glass (a Japanese company).
Is this kind of like a bribe for First Nation status?
Does Corning have some tech they showed Apple and need investment funds to see the project through? $200 million is just the start, I think.
I bet greedy shareholders are pissed that money is going to create jobs instead of in their pockets!
it’s about 4 cents a share.
If they are pissed, they are idiots. since smart investment in R&D creates jobs and puts money in their pockets.