AAPL Apple Inc

By Michael Dabaie

Apple Inc. said it is awarding $45 million from its Advanced Manufacturing Fund to Corning Inc.

Corning is a supplier of precision glass for Apple's iPhone, Apple Watch, and iPad.

Apple said the funding will expand Corning's U.S. manufacturing capacity and drive research and development into new technologies that support durability and long product life.

Corning has already received $450 million from Apple's $5 billion Advanced Manufacturing Fund over the last four years, Apple said. The company said the investment has helped facilitate research and development into glass processes, which led to the creation of new glass-ceramic material Ceramic Shield.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

May 10, 2021 07:46 ET (11:46 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.