GT Advanced Technologies Inc. said that it is pursuing the sale of its sapphire furnaces and will pay former partner, Apple Inc., a portion of the cash it gets from the sale, Reuters reported yesterday. The furnaces were installed to make sapphire glass for Apple, which loaned GT Advanced $439 million for the project. GT Advanced, which invested heavily into increasing production of sapphire materials for Apple, blamed the supply agreement for forcing it into bankruptcy in October, a move that shocked investors and sent its stock plummeting more than 90 percent to under $1 before Nasdaq suspended the shares.
