Apple to invest $200 million in Corning Incorporated

The Cupertino based tech giant Apple has recently announced its plans to invest $200 million in Corning Incorporated as a part of the company's commitment to foster innovation among American manufacturers.

Apple says that "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."

Corning is a great example of a supplier that has continued to innovate and they are one of Apple's long-standing suppliers," said Jeff Williams, Apple's chief operating officer.

Williams added that "this partnership started 10 years ago with the very first iPhone, and today every customer that buys an iPhone or iPad anywhere in the world touches glass that was developed in America. We're extremely proud of our collaboration over the years and we are investing further with Corning who has such a rich legacy of innovative manufacturing practices."

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Apple committed to investing at least $1 billion with the US-based companies as part of the fund, which is designed to foster innovative production and highly skilled jobs that will help lay the foundation for a new era of technology-driven manufacturing in the US.

"Corning's longstanding relationship with Apple has not only led to significant glass innovations that have enabled new capabilities for consumers, it has also helped create nearly 1,000 American jobs and allowed us to continue growing and expanding in the US," said Wendell P. Weeks, Corning's chairman, chief executive officer and president. "This investment will ensure our plant in Harrodsburg remains a global center of excellence for glass technology."

"Since the inception of Gorilla Glass in 2007, the partnership between Apple and Corning has created and sustained nearly 1,000 US jobs across Corning's R&D, manufacturing, and commercial functions, including over 400 in Harrodsburg. Corning has procured enough renewable energy to cover all of its Apple manufacturing in the US," Apple said in a statement.