![](https://hugin.info/155653/I/2181610/127147.jpg)
Corning invests in new pharmaceutical glass packaging
capacity;
creates over 300 new
jobs
CORNING, N.Y., MARCH 4, 2018
- Corning Incorporated (NYSE: GLW) today announced an
investment in Corning Valor® Glass to build a high-volume
manufacturing facility that will create over 300 new jobs in Durham
County, North Carolina.
Adding capacity for Valor Glass in Durham is part
of Corning's plan announced in July 2017 to invest $500 million and
create 1,000 new U.S. jobs. Today's announcement follows
similar Corning investments in the development and manufacturing of
Valor Glass in Big Flats and Erwin, New York.
"Making this next-generation product requires a
new, advanced manufacturing platform. We are proud to build
this high-volume manufacturing facility for Valor Glass in Durham
County," said Wendell P. Weeks, Corning's chairman, chief executive
officer, and president.
"This progress is made possible by great customers
like Merck and Pfizer, and the strong support that we have received
from Senator Burr, Governor Cooper and the Durham County
Commissioners, the White House Office of American Innovation, and
FDA's Emerging Technology Team," Weeks said.
"We have been part of the Valor program since its
outset and we are thrilled to take part in today's ceremony which
celebrates the outstanding progress in the development of this
remarkable product. This technology is a critical advancement
in pharmaceutical packaging," said Sanat Chattopadhyay, executive
vice president and president, Merck Manufacturing
Division.
This latest announcement demonstrates Corning's
commitment to bringing Valor to patients and healthcare
practitioners. "We are proud to have partnered with Corning
to advance this revolutionary new glass for medicines that are
critical to patients. Our ongoing testing at several of our major
sterile injectable U.S. manufacturing sites continues to show
promise, and we continue to work with Corning to assess the full
potential of this new, innovative glass," said Kirsten
Lund-Jurgensen, executive vice president and president, Pfizer
Global Supply.
The new facility will be constructed adjacent to a
Corning Life Sciences manufacturing facility, enabling the company
to realize synergies between the two businesses. It is anticipated
the new facility will be operational by year-end 2019.
"I'm pleased to see North Carolina continue to
lead the way in the research and development of innovative products
to save and improve lives," said U.S. Senator Richard Burr, of
North Carolina. "This leadership continues to result in new job
opportunities in our state and improve health care across the
country. I am proud to participate in this dedication as a part of
this work."
Valor Glass dramatically reduces particle
contamination, breaks and cracks while significantly increasing
throughput. As a result, Valor helps protect patients and improves
pharmaceutical manufacturing.
For background, supporting information, and images
please visit our media resource center.
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.
Web Disclosure
In accordance with guidance provided by the SEC regarding the use
of company websites and social media channels to disclose material
information, Corning Incorporated ("Corning") wishes to notify
investors, media, and other interested parties that it intends to
use its website
(http://www.corning.com/worldwide/en/about-us/news-events.html) to
publish important information about the company, including
information that may be deemed material to investors, or
supplemental to information contained in this or other press
releases. The list of websites and social media channels that the
company uses may be updated on Corning's media and website from
time to time. Corning encourages investors, media, and other
interested parties to review the information Corning may publish
through its website and social media channels as described above,
in addition to the company's SEC filings, press releases,
conference calls, and webcasts.
About Corning
Incorporated
Corning (www.corning.com) is one of the world's leading innovators
in materials science, with a more than 165-year track record of
life-changing inventions. Corning applies its unparalleled
expertise in glass science, ceramic science, and optical physics
along with its deep manufacturing and engineering capabilities to
develop category-defining products that transform industries and
enhance people's lives. Corning succeeds through sustained
investment in RD&E, a unique combination of material and
process innovation, and deep, trust-based relationships with
customers who are global leaders in their industries.
Corning's capabilities are versatile and synergistic, which allows
the company to evolve to meet changing market needs, while also
helping our customers capture new opportunities in dynamic
industries. Today, Corning's markets include optical
communications, mobile consumer electronics, display technology,
automotive, and life sciences vessels. Corning's industry-leading
products include damage-resistant cover glass for mobile devices;
precision glass for advanced displays; optical fiber, wireless
technologies, and connectivity solutions for state-of-the-art
communications networks; trusted products to accelerate drug
discovery and delivery; and clean-air technologies for cars and
trucks.
Media Relations
Contacts:
Lee
Bansil
(607)
974-7341
bansill@corning.com
Joe
Dunning
(607)
974-5006
dunningjm@corning.com
Investor Relations
Contact:
Ann H.S. Nicholson
(607) 974-6716
nicholsoas@corning.com
Follow
Corning: RSS
Feeds | Facebook | Twitter | YouTube
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Corning Incorporated via Globenewswire
Corning (NYSE:GLW)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Corning (NYSE:GLW)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024