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GTAT Agreement With Apple Zaguomaitie 439 Million To Pay Off Debt

Jul 26, 2017

  A year ago, Apple's very special sapphire supplier of advanced technology (GTAT) parted ways with Apple declared bankruptcy, LED stadium lights even though the process is harmonious, but GTAT still owe Apple $ 439 million, on the 4th, 'Wall Street Journal' reported that, GT and Apple finally agreement on debt repayment. LED stadium lighting according to documents submitted to the US Bankruptcy Court, GTAT will auction the original screen for Apple's acquisition of sapphire sapphire manufacturing equipment, GT retain up to 600 manufacturing sapphire furnace, and all unsold items will give Apple disposal. GT a year ago announced that they plan to put more than 2,000 Arizona furnace plants to sell to pay off debts, but one can not sell, forcing them to auction a way. High power led flood light GTAT had spent about $ 900 million in Arizona sapphire cover factories, apples advance $ 439 million to advance the agreement reached at the original Apple will provide relief loans to GT when cooperation between the two sides, and the auction proceeds will be two sides of the furnace sharing. After declaring bankruptcy layoffs GT 700, GT earlier this year and then laid off 40% of employees. backpfrontp because sapphire is harder than glass, 1000W LED flood lights apple fancy this point only lend money to GT allow them to produce materials used in the next generation iPhone. But the middle of the process error, either GT said Apple has been changing the specifications and requirements, or Apple alleged inability standard GT, GT are mired in loans no customers in the heavy. LED tennis court lights 'Wall Street Journal' that, GT looked into before December 31, you can sell these furnaces, the best option is to invite bidders to participate in the auction, the auction time is November 23. GT and apple before going to the auction process, LED high bay lights the need to sign the bankruptcy judge and other programs. backp