Corning Celebrates in Kaiserslautern, Germany
15 Setembro 2011 - 9:30AM
Business Wire
Corning Incorporated (NYSE: GLW) today hosted a ceremony to
recognize two of its emissions control facilities in
Kaiserslautern, Germany. Company leadership, local government
officials, and customers gathered at the Corning Kaiserslautern
Diesel Manufacturing Facility to celebrate its grand opening. They
also commemorated the 25th anniversary of the Kaiserslautern Main
Plant.
The Corning Kaiserslautern Diesel Manufacturing Facility
manufactures Corning DuraTrap® AT filters for light-duty diesel
applications. The plant began shipping product to customers in
Europe and around the world in the third quarter of this year.
The grand opening occurs one year after the company announced a
$44 million investment to build the state-of-the-art facility which
is located near customers in Europe. This location provides
customers with significant advantages, including shorter delivery
times, reduced inventory costs, lower transportation costs, and
improved service.
Corning also celebrated the 25th anniversary of the
Kaiserslautern Main Plant, which manufactures advanced substrates
for light-duty vehicles. Corning broke ground on the facility in
1985 and began shipping products a year later. Since then, the
company has continued to invest in the facility, its employees, and
the business.
“Today’s event underscores Corning’s ongoing commitment to
providing leading-edge emissions-control products to our customers
around the world,” said Corning Chairman and CEO Wendell P. Weeks.
“Corning has a long history of creating clean-air solutions,
including 25 years of manufacturing here in Kaiserslautern to meet
the needs of our European customers. As the automotive market grows
and global regulations tighten, we continue to respond with
innovations that enable Corning to capture strategic growth
opportunities, while helping solve some of our customers’ most
difficult problems.”
Corning’s world-class research and development, engineering,
manufacturing, sales, and marketing expertise supports a vehicle
market that is expected to grow from 75 million in 2011 to more
than 100 million vehicles by 2016. As vehicle production increases,
so does demand for Corning light-duty emissions control
products.
“Europe is the leader in light-duty diesel vehicles where Euro 5
regulations require every vehicle to have a filter,” said Mark A.
Beck, senior vice president and general manager of Corning
Environmental Technologies. “Our new facility, along with Corning’s
other emissions control plants in South Africa and North America,
will help us meet the increasing demand for our clean air products.
In addition, we are currently expanding our light-duty substrates
business in Asia. We expect these significant investments to enable
us to support our customers’ growth objectives.”
In addition to increased vehicle production and a growing
market, the emissions control business is driven by strict
emissions standards. As global regulations tighten, vehicle
manufacturers are required to use more, and advanced, substrates in
each vehicle. To help meet this growing substrate demand, Corning
recently announced two expansions at its Corning Shanghai Company
Limited (CSCL) plant in Shanghai, China. The expansions are
expected to be complete in the second half of 2012 and the third
quarter of 2013.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” (within
the meaning of the Private Securities Litigation Reform Act of
1995), which are based on current expectations and assumptions
about Corning’s financial results and business operations, that
involve substantial risks and uncertainties that could cause actual
results to differ materially. These risks and uncertainties
include: the effect of global political, economic and business
conditions; conditions in the financial and credit
markets; currency fluctuations; tax rates; product demand
and industry capacity; competition; reliance on a concentrated
customer base; manufacturing efficiencies; cost reductions;
availability of critical components and materials; new product
commercialization; pricing fluctuations and changes in
the mix of sales between premium and non-premium products; new
plant start-up or restructuring costs; possible
disruption in commercial activities due to terrorist activity,
armed conflict, political or financial instability, natural
disasters, adverse weather conditions, 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; retention of key
personnel; stock price fluctuations; and adverse litigation or
regulatory developments. These and other risk factors
are detailed 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.
About Corning Incorporated
Corning Incorporated (www.corning.com) is the world leader in
specialty glass and ceramics. Drawing on 160 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.
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