Apple plant in Mesa nears completion










Wise men talk because they have something to say; fools, because they have to say something.

~Plato (429-347 BC)


Monday, August 04, 2014, 02:25 pm PT (05:25 pm ET)

Apple sapphire supplier GT Advanced nears completion of Arizona plant, volume production imminent

By Mikey Campbell  GT Advanced Technologies on Monday said its Arizona sapphire manufacturing facility in Arizona, built in partnership with Apple, is nearly complete and will transition from initial manufacturing to volume production in the near future.

In GTAT’s results for the second fiscal quarter of 2014, the company revealed that its 1.4 million-square-foot plant in Arizona — a joint Apple build dubbed Project Cascade — is nearing completion, meaning the facility’s output should hit mass production levels in the near future.

“The build-out of our Arizona facility, which has involved taking a 1.4 million square foot facility from a shell to a functional structure as well as the installation of sapphire growth and fabrication equipment, is nearly complete and we are commencing the transition to volume production,” said GT Advanced CEO Tom Gutierrez. “We remain confident about the long-term potential of the sapphire materials business for GT.”

For the quarter ending in June, GTAT posted $58 million in revenue, a huge gain from last quarter’s $22.5 million performance, but much lower than 2013 due to the buildout of Project Cascade. Overall, the firm posted a net loss of $86 million in quarter two, more than double the $41 million loss seen at the end of March. For the first half of 2014, the company has lost some $128 million.

Much of GTAT’s revenue growth came in the way of sapphire-related revenue, which hit $44.1 million over the three-month period, up from $5.6 million in the previous quarter. The ramp-up to production came at a heavy cost of $45.5 million during quarter two, up from less than $2 million in the first quarter of 2014.

“Results during the second quarter were in line with our guidance,” Gutierrez said.”We have continued to see strong interest in our suite of sapphire production tools, including our ASF equipment. In fact, the sapphire segment of our business accounted for over 75 percent of the revenue in the quarter, with the majority of it related to the sale of sapphire production equipment.”

Apple struck a deal with GTAT worth $578 million last November and so far handed out three prepayments, this quarter’s amounting to $103 million. If operational targets are met in Arizona, GTAT is expected to take receipt of the final $139 million prepayment by the end of October.

While Apple has limited use of sapphire to smaller components like protective covers for the iPhone’s rear-camera lens and Touch ID fingerprint sensor, the company is expected to soon deploy the hard material on a wider scale. Many industry watchers suggest the next-generation iPhone could feature a sapphire display, though a recent report threw cold water on the rumor, saying production yields may prohibit a large-scale rollout in 2014.





A little about me and my expertise – video


commercial / investment real estate / Arizona land specialist


I go to great heights to sell or purchase your land,_Arizona_history


Facts of Arizona – year 1848 to 2013



Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Investment Properties in Phoenix.



View my listings and my profile at:


What is a CCIM?


Join My Mailing List



Please go to my web-site and get all the newsflashes and updates in Commercial Investment Real Estate in Phoenix and Commercial Investment Properties in Phoenix daily



Check out my professional profile and connect with me on LinkedIn.


Follow me on Facebook:


Follow me on Twitter:



Follow Me on Google+


Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial Investment Real Estate Broker in Arizona now for 20 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.





we are at on the a rise of the cycle in Commercial Real Estate.  so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix.  The prices on deals I may get you will not be around forever.


If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us. 


Please reply by e-mail or call me on my cell 520-975-5207 or Office:480-948-5554


Thank You


Walter Unger CCIM

Associate Broker,  West USA Commercial Real Estate Advisers

7077 E. Marilyn Road, Bldg 4, Suite 130

Scottsdale, AZ 85254

Cell:      520-975-5207   

Office :  480-948-5554

Fax: (480-658-1172


View my listings and my profile at:             


a little about me and my expertise – video


commercial-investment real estate adviser-land specialist


What is a CCIM?



Delivering the New Standard of Excellence in Commercial Real Estate 


  • Commercial Real Estate Scottsdale
  • Commercial Real Estate Phoenix
  • Commercial Real Estate Arizona
  • Commercial Investment Properties Phoenix
  • Commercial Investment Properties Scottsdale
  • Commercial Investment Properties Arizona
  • Land Specialist Arizona
  • Arizona Land Specialist
  • Land Specialist Phoenix
  • Phoenix Land Specialist
  • Land For Sale Phoenix
  • Land for sale Arizona
  • Commercial Properties For Sale Phoenix
  • Commercial Real Estate Sales Phoenix
  • Commercial Properties Phoenix
  • Commercial Properties Arizona
  • Commercial Land Specialist Phoenix
  • Commercial Land Phoenix
  • Multifamily land Phoenix
  • Retail Land Phoenix
  • Industrial Land Phoenix
  • Land Commercial Phoenix
  • Land Retail Phoenix
  • Land Industrial Phoenix
  • Land Multifamily Phoenix
  • Industrial Land for sale Phoenix
  • Land Industrial
  • P
  • Investment Real Estate


Disclaimer of Liability

The information in this blog-newsletter is for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.