GT Advanced Technologies: Response to Apple's Statement
MERRIMACK - GT Advanced Technologies Inc. (OTC Pink:GTATQ) issued the following statement:
"The position that Apple has taken in response to the release of our October 8th declaration is in line with our expectations, as reflected in paragraph 52 of Dan Squiller's October 28th declaration in support of the Apple Settlement," said Tom Gutierrez, president and chief executive officer.
"Although we have different views on the matter, we believe we have settled our disputes with Apple and see no point in further addressing the circumstances that led to our Chapter 11 filing or our relationship with Apple. Our focus now is on moving the company forward through the bankruptcy process. We remain optimistic that the Bankruptcy Court will approve the Apple Settlement Agreement on November 25th because it is in the best interest of all parties."
About GT Advanced Technologies Inc.
GT Advanced Technologies Inc. is a leading diversified technology company producing advanced materials and innovative crystal growth equipment for the global consumer electronics, power electronics, solar and LED industries. Its technical innovations accelerate the use of advanced materials, enabling a new generation of products across this diversified set of global markets. For additional information about GT Advanced Technologies, please visit www.gtat.com.