Apple Awards an Additional $410 Million from its Advanced Manufacturing Fund to II-VI

Apple and II-VI's collaboration will support more than 700 manufacturing jobs across the US

Apple ® today announced a new $410 million award from its Advanced Manufacturing Fund for II-VI, a leading manufacturer of optical technology. Today's award builds on an initial $390 million awarded from Apple's Advanced Manufacturing Fund in 2017. The expansion of the company's long-standing relationship will create additional capacity and accelerate delivery of future components for iPhone ® , with 700 jobs in Sherman, Texas; Warren, New Jersey; Easton, Pennsylvania; and Champaign, Illinois.

II-VI manufactures vertical-cavity surface-emitting lasers (VCSELs) that help power Face ID ® , Memoji™, Animoji ® , and Portrait mode selfies. Apple also works with II-VI to manufacture lasers used in the LiDAR Scanner — technology that helps deliver faster, more realistic augmented reality experiences and improves autofocus in low-light scenes in photos and videos.

Apple began working with II-VI in Sherman, Texas, in 2017 as part of the company's Advanced Manufacturing Fund, which helped transform a long-shuttered, 700,000-square-foot building into a high-tech manufacturing facility and created hundreds of local jobs. Through close collaboration with Apple engineering and operations teams, the company has rapidly increased production in the past year to enable record shipments from the Sherman facility.

"We established Apple's Advanced Manufacturing Fund to support American businesses creating next-generation technology and the jobs of tomorrow," said Jeff Williams, Apple's chief operating officer. "II-VI shares our commitment to push the boundaries of innovation and we're proud to be extending our work together across the country."

"The partnership between Apple and II-VI sets the stage for a new wave of breakthrough technologies that we believe will enable a wide range of applications that will benefit our world for decades to come," said Dr. Vincent Mattera Jr., II-VI's CEO. "We are incredibly grateful for Apple's support which has allowed us to expand our manufacturing capacity and scale our operations across the US."

II-VI is a part of Apple's Clean Energy Program, which was designed to advance the use of renewable energy across the company's supply chain, and is already using 100 percent renewable energy across all of its Apple manufacturing in the US.

Apple's expanded partnership with II-VI is part of the company's plans to invest $430 billion and add 20,000 new jobs across the US over the next five years. Apple's contributions include working with more than 9,000 suppliers across the country who are supporting American job creation across dozens of sectors, including silicon engineering, 5G, and manufacturing.

To support world-class innovation and high-skilled manufacturing jobs across the US, Apple established its Advanced Manufacturing Fund in 2017. The $5 billion fund has supported a number of projects to date, including $450 million in awards to Corning Incorporated in Harrodsburg, Kentucky, which led to the creation of Ceramic Shield™, a new material that's tougher than any other smartphone glass.

Apple supports 2.7 million jobs across all 50 states through direct employment, spending with US suppliers and manufacturers, and the iOS app economy.

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about Apple's plans for future investments and expansion. These statements involve risks and uncertainties, and actual results may differ. More information regarding potential risks and other factors that could affect Apple's financial results is included in Apple's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Apple's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. Apple assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple's five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple's more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

NOTE TO EDITORS: For additional information visit Apple Newsroom ( www.apple.com/newsroom ), or call Apple's Media Helpline at (408) 974-2042.

© 2021 Apple Inc. All rights reserved. Apple, iPhone, Face ID, Memoji, Animoji, Ceramic Shield, and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

Rachel Tulley
Apple
rachel_tulley@apple.com
408-974-0078

News Provided by Business Wire via QuoteMedia

The Conversation (0)

Apple Jing'an to welcome its first customers this Thursday, March 21, in Shanghai

The new Apple Store in Shanghai features Apple's best lineup of products ever, special Today at Apple sessions that celebrate local culture, and a team of more than 150 ready to offer excellent service to customers

Apple® today previewed Apple Jing'an, located near Jing'an Temple and Jing'an Park in Shanghai. The store is encircled by an exterior plaza that gives the community a gathering place for special events, as well as providing a one-of-a-kind shopping destination where customers can discover and buy Apple's unparalleled lineup of products and services.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Driving Sustainable Excellence and Inspiring the Next Generation: A Blueprint for Companies

Qualcomm

By Angela Baker, VP, Corporate Responsibility and Chief Sustainability Officer, Qualcomm Incorporated

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Qualcomm Increases Quarterly Cash Dividend

Qualcomm Incorporated (NASDAQ: QCOM) today announced that its Board of Directors has approved an increase in the Company's quarterly cash dividend from $0.80 to $0.85 per share of common stock. This dividend increase will be effective for quarterly dividends payable after March 21, 2024 and will raise the annualized dividend payout to $3.40 per share of common stock.

Cristiano Amon, President and CEO of Qualcomm Incorporated, said, "We are pleased to announce an increase in our quarterly dividend. We remain committed to returning capital to stockholders through a balanced capital return policy, including a baseline of anti-dilutive stock repurchases."

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Apple unveils the new 13- and 15-inch MacBook Air with the powerful M3 chip

The world's most popular laptop is better than ever with even more performance, faster Wi-Fi, and support for up to two external displays — all in its strikingly thin and light design with up to 18 hours of battery life

Apple® today announced the new MacBook Air® with the powerful M3 chip, taking its incredible combination of power-efficient performance and portability to a new level. With M3, MacBook Air is up to 60 percent faster than the model with the M1 chip and up to 13x faster than the fastest Intel-based MacBook Air. 1 And with a faster and more efficient Neural Engine in M3, MacBook Air continues to be the world's best consumer laptop for AI. The 13- and 15-inch MacBook Air both feature a strikingly thin and light design, up to 18 hours of battery life, 1 a stunning Liquid Retina® display, and new capabilities, including support for up to two external displays and up to 2x faster Wi-Fi than the previous generation. With its durable aluminum unibody enclosure that's built to last, the new MacBook Air is available in four gorgeous colors: midnight, which features a breakthrough anodization seal to reduce fingerprints; starlight; space gray; and silver. Combined with its world-class camera, mics, and speakers; MagSafe® charging; its silent, fanless design; and macOS®, MacBook Air delivers an unrivaled experience — making the 13-inch model the world's bestselling laptop and the 15-inch model the world's bestselling 15-inch laptop. Customers can order starting today, with availability beginning Friday, March 8.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Enabling the Deep-Tech and Innovation Ecosystems in Vietnam, Taiwan and Africa

QualcommQualcomm programs are helping drive digital transformation through growth of innovation, IP awareness and more in various emerging markets of the world

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Building Skills in Afterschool: STEM Next and Qualcomm, Inc. Lead the Way for Future Innovators

Qualcomm

In a rural town in New York, a 6th-grade boy has just finished working through the Engineering Design Process and reflects, "When I thought about engineering, I thought it was just building things, but I learned what a mechanical engineer did and now that's what I want to be."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×