Apple invests $250 million in glass maker Corning
Apple announced Tuesday that glass supplier Corning will receive $250 million as part of the Cupertino tech giant's Advanced Manufacturing Fund. The investment follows Apple's previous $200 million cash injection into Corning's Harrodsburg, Ky. manufacturing plant.
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Corning is a long-time Apple partner and its durable Gorilla Glass has been used on iPhones and iPads since the very beginning. Apple said the latest investment will go toward Corning's research and development, equipment needs, and state-of-the-art glass processing.
"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."
Apple launched its manufacturing fund in 2017 as a way to support "a new era of technology-driven manufacturing in the US," and Corning was the first beneficiary. Apple says it has invested more than $1 billion in US-based companies to date, including $390 million awarded to optical communications manufacturer Finisar and $10 million to the Elysis aluminum partnership.
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