Replies to post #32194 on GT Advanced Technologies Inc fka GTAT

[MattySR]

The chances of Apple still using GTAT as supplier for it's 2015Q3 products are lower then Equity surviving the Bankruptcy.

Just read the language of the docs as they relate to both the mesa production facility and GTATs legacy Salem Facility (which produced sapphire boules long before Apple came into the picture). GTAT wants out of sapphire production.

https://www.kccllc.net/gtat/document/1411916150528000000000001

^ Salem leases.

Prior to the Petition Date, GTAT entered into six leases ofnonResidential real property for various premises located at the Shetland Park business center in Salem, Massachusetts (the “Shetland Parkleases”). Historically, GTAT used these premises for offices,warehousing, and manufacturing related to two of its business operations: (i) the Ti specialty sapphire business (the “Ti Specialty Business”) that GTAT continues to operate; and (ii) sapphire growth operations that GTAT began winding down in November 2014. GTAT has determined that, while it is desirable to continue using the portion of the space it rents to operate the Ti Specialty Business, a substantial portion of the space that was historically rented under the Shetland Park Leases is no longer necessary for operation of GTAT’s business. Consequently, two of the Shetland Park Leases were not renewed when they expired, a third lease has already been rejected, and a fourth lease will be deemed rejected.

4 out of 6 releases rejected/expired.

If you keep reading that motion, (which was granted) the language points heavily towards a reduction in the Salem leases to benefit the TI Sapphire Business and to end the Sapphire production business, as it related to the Salem Leases.

And there is NO way GTAT is actively trying to sell ASF furnaces AND producing Sapphire for Apple (or anyone else) at Mesa. If so I will eat my sock :^)

GTAT is not a Sapphire materials supplier anymore.