GT Advanced pursuing sale of sapphire furnaces to pay off debt to Apple<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p><a href='
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GT Advanced Technologies is currently looking to sell its sapphire furnaces. The company expects to get at least $500,000 for each furnace, and a portion of the proceeds of each sale will go to Apple, which loaned GT Advanced money to buy the furnaces in the first place.<!--break--> From
Reuters:</p>
<p>The furnaces were installed to make sapphire glass for Apple, which loaned GT Advanced $439 million for the project.</p>
<p>The sale of the sapphire furnaces was part of GT Advance's
bankruptcy settlement. Under the terms of their settlement, GT has four years to pay off its debt to Apple.</p> <p>Source:
Reuters</p> </div></div></div><div id="comment-wrapper-nid-29103"></div><img width='1' height='1' src='
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GT Advanced pursuing sale of sapphire furnaces to pay off debt to Apple
