GT Advanced Technologies Inc fka GTAT

[august1991]

SOUNDS GREAT TO ME!!!!

GT and Apple will continue their technical exchange involving the development of processes for growing next generation sapphire boules as GT continues to build on its successfully deployed ASF115Kg technology and expand its range above 165Kg.

"We are pleased with the settlement that we have negotiated with Apple," said Tom Gutierrez, president and chief executive officer. "We realize that our filing for Chapter 11 protection has caused uncertainty and hardship for many of our important stakeholders. We have been working diligently to develop a restructuring plan that will allow us to emerge from Chapter 11 as quickly as possible and with the operating flexibility and resources to position GT for long-term success. This agreement with Apple is an important step in that direction as it will allow us to monetize our advanced sapphire growth and fabrication technologies in an unrestricted manner. In addition to continuing to sell our industry leading sapphire equipment, we remain committed to advancing our Merlin(TM), Hyperion(TM) and next-generation PV and polysilicon solar solutions."