GT Advanced Technologies' Apple deal gone sour

Manchester, New Hampshire

GT Advanced Technologies Inc has said that it will cut 890 jobs, close an Arizona plant expected to make scratch-resistant screens for Apple Inc, and suggested that it could pursue legal claims against the iPhone maker while revamping under bankruptcy. "Only if GT winds down these operations will it be able to stop its mounting losses and re-focus its resources on the operation of its core business of selling sapphire furnaces and other products," the firm said.

GT Advanced said that it was burning through US$1 million a day at the operations it intended to close. "GT believes that it has many claims against Apple arising out of its business relationship with Apple," the firm said in a filing with the US Bankruptcy Court in Manchester, New Hampshire.