Apple Inc. CEO Tim Cook recently announced a new $1 billion U.S. Manufacturing Fund, and today, it revealed the name of its first recipient. The glass supplier Corning Incorporated (NYSE:GLW) will get $200 million from Apple’s new fund to invest in U.S. companies that do advanced manufacturing.
Why Apple choose Corning
Apple’s $200 million investment in the glass maker will “support Corning’s R&D, capital equipment needs, and state-of-the-art glass processing.” Pushing its commitment to extending its 100% renewable energy goal to its suppliers, the iPhone maker said Corning will adhere to renewables when making products for Apple, notes 9to5mac.
In a statement, Apple’s COO Jeff Williams said, “Corning is a great example of a supplier that has continued to innovate and they are one of Apple’s long-standing suppliers.”
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