Manufacturer Sapphire Apple Watch filed for bankruptcy – RosInvest.Com

Вторник, 7 октября 2014 г.

Company GT Advanced Technologies, which makes for Apple devices, sapphire glass, sued Arizona zayalenie for recognition the company bankrupt. However, this does not mean that production stops, the company will continue to operate as normal, but the recognition of a bankrupt is part of a long-term strategy for the restructuring of the business, according to the head of GT Advanced.

In this situation, the recognition of the company’s bankruptcy will help protect the company’s assets from creditors at the time, until it is restructured and introduced new tools byuzhdet company. As of September 29, 2014, the company had $ 85 million in cash, but the company is in a hurry to look for funds for the work of the company in the normal mode, including for wage employees.

According to the contract with the company from Cupertino, GT Advanced must execute the order by sapphire crystal in the amount of 578 million dollars, which will be used, at least in the more expensive versions of Apple Watch.

However, despite the enchanting statement of the company that that the company will continue to operate at full capacity, and the decision to apply for bankruptcy will give the opportunity to “continue to implement a business plan to strengthen the company, as well as to improve the financial well-being,” the miracle did not happen. Company’s share price has fallen by 90 per cent, indicating that the skeptical perception of words to the company.

It is unlikely that GT Advanced Technologies will be closed in the near future, but the difficulties faced by the company, could disrupt the timing of orders that may affect the amount of outgoing Apple Watch for the mass market. Perhaps, Apple is already beginning to look for new suppliers, so that soon we may hear about a new partnership company.

Alexander Gorodnik, ht_news@corp.mail.ru

Source: Tech Crunch

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