Apple has announced that it will be investing $200 million in Corning, the company behind the glass used in iPhone screens, from its new Advanced Manufacturing Fund. Apple says that the investment will focus on Corning's facility in Harrodsburg, Kentucky.
Apple today announced Corning Incorporated will receive $200 million from Apple's new Advanced Manufacturing Fund as part of the company's commitment to foster innovation among American manufacturers. The investment will support Corning's R&D, capital equipment needs and state-of-the-art glass processing. Corning's 65-year-old Harrodsburg facility has been integral to the 10-year collaboration between these two innovative companies and will be the focus of Apple's investment.
Apple's announcement notes that Corning works to recapture material from used glass in order to help reduce waste, another area of interest for Apple.
Recently announced, Apple's Advanced Manufacturing Fund will see the company invest at least $1 billion with U.S.-based companies. The aim is to help these companies create jobs for skilled workers and boost manufacturing in the United States.
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