GT Advanced Technologies to shut down operations

GT Advanced Technology (GTAT) has announced that it will close down its operations at its plant in Arizona and will leave 890 people jobless. The plant also produces sapphire for its tech-based clienteles.

The company serves as an independent manufacturer and marketer of materials used for optical, laser and solar applications and specializes on whipping up directions and product information may pursue its claim against technology Apple which used sapphire on its iPhones’ screen.

GTAT is also renowned for whipping up solutions for global solar, LED and electronic companies.

The company’s share dropped to 37.2% to 0.8.

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