Corning Announces Expansion of its Optical Fiber Manufacturing Facility in China
18 Julho 2007 - 9:00PM
Business Wire
Corning Incorporated (NYSE:GLW) today announced plans to expand its
optical fiber manufacturing facility in China. The decision is
based on continued growth in the China optical fiber market. �The
optical fiber market in China is expected to more than double in
annual volume this decade driven by increasing need for the
widespread deployment of high-speed, broadband optical
communications networks,� said Martin J. Curran, senior vice
president and general manager, Corning Optical Fiber. �The
expansion of our Shanghai facility will ensure that we have
adequate capacity to meet this opportunity and maintain our strong
position in the China optical fiber market.� �For more than 20
years, as China's communications infrastructure evolved to
fiber-optic networks, Corning has played an important role and
provided technologically advanced optical fiber as the foundation
of a large percentage of China's nationwide communications
backbone,� said Eric S. Musser, chief executive officer, Corning
Greater China. �Today we are announcing another significant
milestone which further strengthens Corning�s commitment to produce
the highest-quality optical fiber in this region.� The expansion of
Corning�s Shanghai optical fiber manufacturing facility will begin
immediately and is expected to be completed in 2009. Corning also
manufactures optical fiber in Wilmington, N.C., the world�s largest
optical fiber plant. The company also recently announced plans to
partially open its optical fiber plant in Concord, N.C., due to
continued growth of the worldwide optical fiber market. About
Corning Incorporated Corning Incorporated (www.corning.com) is the
world leader in specialty glass and ceramics. Drawing on more than
150 years of materials science and process engineering knowledge,
Corning creates and makes keystone components that enable
high-technology systems for consumer electronics, mobile emissions
control, telecommunications and life sciences. Our products include
glass substrates for LCD televisions, computer monitors and
laptops; ceramic substrates and filters for mobile emission control
systems; optical fiber, cable, hardware & equipment for
telecommunications networks; optical biosensors for drug discovery;
and other advanced optics and specialty glass solutions for a
number of industries including semiconductor, aerospace, defense,
astronomy and metrology. For more about Corning�s innovative
optical fiber solutions, visit www.corning.com/opticalfiber.
Forward-Looking and Cautionary Statements This press release
contains forward-looking statements that involve a variety of
business risks and other uncertainties that could cause actual
results to differ materially. These risks and uncertainties include
the possibility of changes in global economic and political
conditions; currency fluctuations; product demand and industry
capacity; competition; manufacturing efficiencies; cost reductions;
availability of critical components and materials; new product
commercialization; changes in the mix of sales between premium and
non-premium products; new plant start-up costs; possible disruption
in commercial activities due to terrorist activity, armed conflict,
political instability or major health concerns; adequacy of
insurance; equity company activities; acquisition and divestiture
activities; the level of excess or obsolete inventory; the rate of
technology change; the ability to enforce patents; product and
components performance issues; stock price fluctuations; and
adverse litigation or regulatory developments. Additional risk
factors are identified in Corning�s filings with the Securities and
Exchange Commission. Forward-looking statements speak only as of
the day that they are made, and Corning undertakes no obligation to
update them in light of new information or future events.
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