Apple will commit up to $100 million to a U.S. titanium supplier for foldable iPhone

Apple $AAPL pledged up to $100 million to Perryman Company, a Pennsylvania-based titanium producer, spread across the next three years, to supply titanium for Apple products, including the iPhone Duo, the company's first foldable iPhone.

Apple said Tuesday that Perryman will handle the melting, forging and rolling of the titanium at its Houston, Pennsylvania, site, with recycled inputs making up 80% or more of the metal. The iPhone Duo has a grade 5 titanium enclosure. Perryman is a family-owned business.

"We're proud to work with Perryman and Qnity Electronics to continue expanding our American Manufacturing Program and support U.S. jobs," Sabih Khan, Apple's chief operating officer, said in a statement.

Apple is expanding its partnership with Qnity Electronics, which is headquartered in Delaware. Qnity will make the advanced films that go into the iPhone 18 Pro's camera, which has an adjustable aperture. Qnity joined the American Manufacturing Program in March.

Apple launched the program last year as part of a $600 billion, four-year commitment to U.S. manufacturing and innovation. The company said the iPhone Duo and iPhone 18 Pro include parts from U.S. manufacturers located in a dozen-plus states.

The announcement comes as Apple grapples with limited availability of the iPhone Duo, which costs $1,999 and reaches retail locations Friday, according to CNBC.

Once preorders opened, online shipping estimates for certain Duo versions hit 14 weeks, according to CNBC, which cited Morgan Stanley $MS. The firm said it had not logged a longer wait for any new iPhone in ten years.

Apple has not indicated whether it will ramp up output, nor whether the Perryman deal will bring extra capacity in the short term, according to CNBC.

Apple also pointed to work with other program partners. Broadcom $AVGO is expanding its Fort Collins, Colorado, facility under a $1.5 billion capital investment announced in July. Corning makes specialty glass for Apple in Harrodsburg, Kentucky. Amkor Technology is building a packaging and test facility in Peoria, Arizona, and Apple will be one of its first customers.