ahlam1399
03-18-2016, 07:04 PM
After filing for bankruptcy (http://www.macrumors.com/2014/10/06/gt-files-bankruptcy/) in 2014, and subsequently dissolving its supplier partnership (http://www.macrumors.com/2014/10/23/gt-apple-settlement-official/) with Apple, GT Advanced Tech**logies today an**unced its return from Chapter 11 "as a newly reorganized company." A group of unnamed financial sponsors have invested $80 million to assist in GT's emergence back into the market.
http://cdn.macrumors.com/article-new/2014/03/gt_advanced_logo.jpg
"Our emergence from Chapter 11 marks the start of a new chapter for our company," said David Keck, GTAT's President and Chief Executive ******r. "Through this process, we have resolved the issues which led to our decision to seek bankruptcy court protection. With our strengthened financial flexibility, we will focus on our industry leading capabilities in the solar and sapphire markets." Before its Chapter 11 filing, GT was Apple's Arizona-based partner in sapphire production on the iPhone. In the weeks after the filing, Chief Operating ******r of GT Advanced, Daniel Squiller, blamed its rocky partnership with Apple (http://www.macrumors.com/2014/10/29/gt-advanced-bankruptcy-filing-insight/) as the main reason behind its bankruptcy. In an officially filed affidavit, Squiller described Apple's unquestionable control over GT's sapphire production -- and a legal contract which favored Apple -- as the culprit behind the manufacturer's inability to meet Apple's production targets, and eventual bankruptcy.
After a few more reports (http://www.macrumors.com/2014/11/18/apple-to-repurpose-sapphire-plant/) in late 2014, centering around what Squiller claimed was Apple's brusque response (http://www.macrumors.com/2014/11/07/apple-gt-advanced-deal/) to GT's indecision over signing a contract with the Cuperti** company, **t much else was heard regarding GT Advanced before today. On the Apple side of things, in 2015 the company confirmed plans (http://www.macrumors.com/2015/02/02/apple-building-global-command-center/) to take over GT's former home in Mesa, Arizona to act as a "command center" for its global data network.
In an official statement, GT Advanced thanked its customers and employees during the long restructuring process and says it looks forward to the future. "We believe GTAT is well positioned for the future," Keck said. "And we are excited about our market opportunities."
Tag: GT Advanced (http://www.macrumors.com/roundup/gt-advanced/)
Discuss this article (http://forums.macrumors.com/threads/gt-advanced-emerges-from-bankruptcy.1961818/) in our forums
http://feeds.feedburner.com/~ff/MacRumors-All?d=6W8y8wAjSf4 (http://feeds.macrumors.com/~ff/MacRumors-All?a=pvZo5kQyopQ:U3vwDAOVKWI:6W8y8wAjSf4) http://feeds.feedburner.com/~ff/MacRumors-All?d=qj6IDK7rITs (http://feeds.macrumors.com/~ff/MacRumors-All?a=pvZo5kQyopQ:U3vwDAOVKWI:qj6IDK7rITs)
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أكثر... (http://www.macrumors.com/2016/03/18/gt-advanced-emerges-from-bankruptcy/)
http://cdn.macrumors.com/article-new/2014/03/gt_advanced_logo.jpg
"Our emergence from Chapter 11 marks the start of a new chapter for our company," said David Keck, GTAT's President and Chief Executive ******r. "Through this process, we have resolved the issues which led to our decision to seek bankruptcy court protection. With our strengthened financial flexibility, we will focus on our industry leading capabilities in the solar and sapphire markets." Before its Chapter 11 filing, GT was Apple's Arizona-based partner in sapphire production on the iPhone. In the weeks after the filing, Chief Operating ******r of GT Advanced, Daniel Squiller, blamed its rocky partnership with Apple (http://www.macrumors.com/2014/10/29/gt-advanced-bankruptcy-filing-insight/) as the main reason behind its bankruptcy. In an officially filed affidavit, Squiller described Apple's unquestionable control over GT's sapphire production -- and a legal contract which favored Apple -- as the culprit behind the manufacturer's inability to meet Apple's production targets, and eventual bankruptcy.
After a few more reports (http://www.macrumors.com/2014/11/18/apple-to-repurpose-sapphire-plant/) in late 2014, centering around what Squiller claimed was Apple's brusque response (http://www.macrumors.com/2014/11/07/apple-gt-advanced-deal/) to GT's indecision over signing a contract with the Cuperti** company, **t much else was heard regarding GT Advanced before today. On the Apple side of things, in 2015 the company confirmed plans (http://www.macrumors.com/2015/02/02/apple-building-global-command-center/) to take over GT's former home in Mesa, Arizona to act as a "command center" for its global data network.
In an official statement, GT Advanced thanked its customers and employees during the long restructuring process and says it looks forward to the future. "We believe GTAT is well positioned for the future," Keck said. "And we are excited about our market opportunities."
Tag: GT Advanced (http://www.macrumors.com/roundup/gt-advanced/)
Discuss this article (http://forums.macrumors.com/threads/gt-advanced-emerges-from-bankruptcy.1961818/) in our forums
http://feeds.feedburner.com/~ff/MacRumors-All?d=6W8y8wAjSf4 (http://feeds.macrumors.com/~ff/MacRumors-All?a=pvZo5kQyopQ:U3vwDAOVKWI:6W8y8wAjSf4) http://feeds.feedburner.com/~ff/MacRumors-All?d=qj6IDK7rITs (http://feeds.macrumors.com/~ff/MacRumors-All?a=pvZo5kQyopQ:U3vwDAOVKWI:qj6IDK7rITs)
http://feeds.feedburner.com/~r/MacRumors-All/~4/pvZo5kQyopQ
أكثر... (http://www.macrumors.com/2016/03/18/gt-advanced-emerges-from-bankruptcy/)