It’s settled, GT Advanced Technologies Inc has reached an agreement with Apple Inc. According to a statement from GT, they would be released from all exclusivity obligations under its various agreements with Apple. While GT will retain ownership of all production assets from Mesa, they will recover Apple $439 million pre-payment made to GT over … Read more
The details have been sparse, but today we finally found out GT Advanced Technologies’ (GTAT) fate. GTAT’s attorney stated earlier today that the split is an ‘amicable parting of ways,’ and that the accord will save millions of dollars and solve most issues. Related: GTAT cuts hundreds of jobs from Arizona employees GTAT’s attorney also disclosed … Read more
GTAT announced Thursday afternoon their plan to cut hundreds of jobs due to their Chapter 11 bankruptcy filing on October 6. Reports indicate that a total of 727 jobs will be cut in order to help keep the struggling company afloat. According to SFGate, the job cuts include 524 production workers, 108 technical positions, 70 … Read more
The drama continues between GT Advanced Technologies and Apple as we’re all reminded that secrets really aren’t that fun. As we probe into GTAT’s court case, attempting to unveil the secrets within, reports reveal that Apple will slap you with a hefty fine of upwards to $50 million if you disclose confidential matters. To recap, GTAT … Read more
New information has emerged surrounding GT Advanced Technologies recent chapter 11 filing. GTAT is seeking approval from a judge to wind down its production of sapphire glass, which could result in a loss of hundreds of Arizona jobs. The bankruptcy filing started when information became public that Apple only paid four out of five advances, but … Read more
GT Advanced Technologies Inc., announced today that it had commenced voluntary cases under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Hampshire. GT expects the court will authorize the company to continue to conduct business as usual while it devotes renewed efforts to resolve its current … Read more
In 2014, Valley communities faced a crushing blow when GTAT announced bankruptcy resulting in the loss of 700 jobs as well as the hopes of building sapphire for Apple products. However, after the sapphire fail, Apple has been trying to preserve jobs at the facilities, according to Dow Jones. Earlier today, Apple announced that they plan … Read more
The icon, the president and CEO of GPEC, Barry Broome is leaving AZ and taking off for the Greater Sacramento Area Economic Council as president and CEO. Welp, the rumor is true. Reported by Eric Jay Toll of Phoenix Business Journal, there was suspicions about Barry flying off to Sacramento and being listed in the top finalists … Read more
Sapphire—Apple needs it, GT Technologies is going to make it. With the anticipation of the new iTime and iPhone 6, this precious glass is gaining more attention because of the integration with more consumer products. According to a report, “Sapphire Technology Market by Growth Technologies, Substrate Water, Devices, Applications, and Geography – Analysis & Forecast to … Read more
Arizona Governor Jan Brewer and the Arizona Commerce Authority announced today that Apple Inc. will open a manufacturing facility in the former First Solar facility to produce the sapphire materials in partnership with GT Advanced Technologies Inc. for Apples’ electronics. GT Advanced Technology (GT) is known for innovative crystal growth equipment and solutions for the … Read more