Apple Awards an Additional $250 Million from Advanced Manufacturing Fund to Corning
September 17 2019 - 7:00AM
Business Wire
Apple® today announced it is awarding $250 million from its
Advanced Manufacturing Fund to Corning Incorporated, supplier of
precision glass for iPhone®, Apple Watch® and iPad®. Today’s award
builds on the $200 million the company received from Apple’s
Advanced Manufacturing Fund in May 2017. The combined investment
supports Corning’s research and development into state-of-the-art
glass processes, equipment and materials integral to the delivery
of next-generation consumer devices.
“Apple and Corning’s rich history dates back more than a decade,
and our partnership revolutionized glass and transformed the
technology industry with the first iPhone,” said Jeff Williams,
Apple’s chief operating officer. “This award underscores Apple and
Corning’s shared belief in the vital role that ingenuity plays in
creating industry-leading products, and the pride that both
companies take in applying American innovation and advanced
manufacturing to solve some of the world's toughest technology
challenges.”
Glass for every generation of iPhone, including iPhone 11 and
iPhone 11 Pro which will be available later this week, has been
made at Corning’s Harrodsburg, Kentucky plant. The newest iPhone
models feature the toughest glass ever in a smartphone, as well as
a back machined from a single piece of glass that allows for
wireless charging.
Apple spent a collective $60 billion with 9,000 American
suppliers in 2018, supporting 450,000 jobs in all 50 states and
manufacturing locations in 36 states. Every one of the company’s
core products — from iPhone and iPad to Mac®, Apple Watch and Apple
TV® — contains parts or materials from the US or is made with
equipment from US-based suppliers.
Apple’s Advanced Manufacturing Fund was designed to foster and
support the innovative production and high-skill jobs that will
help fuel a new era of technology-driven manufacturing in the US.
To date, Apple has invested over $1 billion in American companies
from its Advanced Manufacturing Fund — deploying the entire $1
billion initial investment and 20 percent of the $5 billion it
subsequently committed to spend. In addition to the $450 million
now awarded to Corning, other commitments already announced include
$390 million to Finisar and $10 million to the Elysis aluminum
partnership.
“We’re proud of what we’ve achieved through our collaboration
with Apple, and excited by the new opportunities this additional
investment creates,” said Wendell P. Weeks, Corning’s chairman,
chief executive officer and president. “This Advanced Manufacturing
Fund award will allow us to develop groundbreaking new glass
innovations, while also expanding our manufacturing capabilities.
Most importantly, our ongoing collaboration allows us to create
vital new capabilities for end users and continue pushing the
boundaries of what is possible well into the future.”
Apple’s 2017 $200 million investment from its Advanced
Manufacturing Fund has helped Corning deliver cutting-edge products
for Apple, as demonstrated in the latest device lineup announced
last week, of which glass is an integral element. The Harrodsburg
facility serves as Corning’s global glass technology center,
working closely with scientists at Sullivan Park in Corning, New
York, to develop advanced glass solutions for next-generation
technologies. Apple’s investment has helped to ensure the
facility’s reputation as a global center of excellence, and
supports the nearly 1,000 Corning jobs created by the Apple
business. The team of nearly 400 highly skilled employees in
Harrodsburg averages 14 years of experience, with Corning
consistently rated one of Kentucky’s top places to work. Corning
has been a part of the fabric of the Harrodsburg community for more
than 65 years and the plant there is Corning’s longest-running
US-based manufacturing facility.
Apple and Corning have been product development partners for
more than a decade, and the Harrodsburg facility has played a key
role in delivering glass solutions for the iPhone since its
inception in 2007, when Gorilla Glass revolutionized the industry.
Some of the most important innovations in glass have happened at
the Kentucky plant — glass for every generation of iPhone and Apple
Watch, and many generations of iPad, have all been made in the
Harrodsburg facility. Since iPhone launched in 2007, Apple has
spent nearly $3 billion with Corning on the glass used in iPhone,
Apple Watch and iPad.
Apple is responsible for creating and supporting 2.4 million US
jobs across all 50 states, four times the number of American jobs
attributable to the company eight years ago. The app economy is
currently responsible for 1.9 million American jobs, and Apple
directly employees 90,000 employees in all 50 states. Apple is on
pace to create 20,000 new jobs and directly contribute $350 billion
to the US economy by 2023, which the company announced in January
of 2018.
Apple revolutionized personal technology with the introduction
of the Macintosh in 1984. Today, Apple leads the world in
innovation with iPhone, iPad, Mac, Apple Watch and Apple TV.
Apple’s four software platforms — iOS, macOS, watchOS and tvOS —
provide seamless experiences across all Apple devices and empower
people with breakthrough services including the App Store, Apple
Music, Apple Pay and iCloud. Apple’s more than 100,000 employees
are dedicated to making the best products on earth, and to leaving
the world better than we found it.
NOTE TO EDITORS: For additional information visit Apple Newsroom
(www.apple.com/newsroom), or call Apple’s Media Helpline at (408)
974-2042.
© 2019 Apple Inc. All rights reserved. Apple, the Apple logo,
iPhone, Apple Watch, iPad, Mac and Apple TV are trademarks of Apple
Inc. Other company and product names may be trademarks of their
respective owners.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190917005370/en/
Apple Fred Sainz, (669) 227-0492 sainz@apple.com
Apple (NASDAQ:AAPL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Apple (NASDAQ:AAPL)
Historical Stock Chart
From Apr 2023 to Apr 2024