Apple sapphire source GT Advanced Technologies wants to shutter plant
Re/Code is reporting that GT Advanced Technologies, the company Apple tapped to begin looking into making device screens from synthetic sapphire, is requesting court permission to close its plant in Arizona.
This comes days after the surprise announcement that GT had filed for Chapter 11 bankruptcy protection. In its filing, GT noted that it had not been able to meet certain manufacturing operation and quality control metrics, causing Apple to withhold a US$139 million loan installment coming due in October.
A total of $578 million had been floated by Apple to help GT build the new plant, and the stalled payment put the company into a untenable financial situation.
Apple spokespersons have reiterated that the company will do all it can to save jobs in Arizona. Whether this means Apple will bail out GT or even purchase the plant itself is unknown.
