R&D hub will discover and develop
solutions for telecommunications industry
CORNING, NY, March 25, 2019 /CNW/ - Corning
Incorporated (NYSE: GLW) today formally opened a research
and development center in Montreal,
Canada, focused on discovering and developing software
solutions for the telecommunications industry.
The Corning Technology Center Montreal will serve as
Corning's global center of
software innovation to support emerging technologies such as
artificial intelligence, augmented reality, cloud computing, and
data analytics, as well as software solutions for optical-wireless
networks. Software engineers from Corning's Research, Development and
Engineering organization will collaborate with developers from
iBwave Solutions, the Montreal-based provider of networking software
solutions that Corning acquired in
2015.
The Montreal site joins
Corning's network of research and
development laboratories throughout North
America, Europe and
Asia, anchored by the company's
Sullivan Park innovation center in
Corning, N.Y. Over the next three
to five years, Corning intends to
hire software engineers, development team managers, and data
analysts at the Montreal
center.
"The combination of transformative technologies and applications
such as 5G, artificial intelligence, and the Internet of Things
depends on the optical connectivity solutions made possible by
Corning's innovations," said
Claudio Mazzali, senior vice
president of technology for Corning's Optical Communications business
segment. "The work that will take place here in our Montreal technology center will extend
Corning's innovation capabilities
beyond optical transport and connectivity, all the way to the
intelligence required to deploy and enable those applications.
Montreal is emerging as a major
center of software innovation, and Corning is glad to be part of it."
The Montreal center's initial
focus will be software solutions for telecommunications networks,
helping Corning's customers unlock
opportunities presented by emerging technologies. It will
eventually become a hub for software innovation across all of
Corning's business segments.
"In addition to the immediate and near-term applications in
Optical Communications systems, what is also very exciting to me
about Corning Technology Center Montreal is how these new
capabilities in software, artificial intelligence and machine
learning will support a corporate strategic initiative in materials
and process informatics and modeling across our technologies and
businesses," said David Morse,
Corning executive vice president
and chief technology officer. "I am delighted to welcome the CTCM
team to Corning's global network
of technology centers."
Corning Technology Center Montreal will build ties to the
region's software-innovation community through membership in IVADO,
the Montreal-based research
institute for data science, operational research, and artificial
intelligence.
"Our data science ecosystem will greatly benefit from
collaborative projects with the Corning Technology Center Montreal,
bridging academic expertise and business needs," said Gilles Savard, chief executive officer of IVADO.
"We are thrilled to welcome Corning as our newest IVADO member and look
forward to working together on developing innovative digital
solutions for the telecommunications industry."
"We are delighted to see Corning, one of the world's most innovative
companies, joining the thriving technology community in
Montreal – further raising the
region's profile as a hub for software research and development,"
said Valérie Pisano, president and chief executive officer of
Montreal-based MILA, a research
institute for artificial intelligence.
Corning Technology Center Montreal aligns with Corning's strategy for success through
sustained investment in research and development, a unique
combination of material and process innovation, and close
collaboration with customers to solve technology challenges.
Caution Concerning Forward-Looking 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 effects of acquisitions,
dispositions and other similar transactions by the Company, the
effect of global business, financial, economic and political
conditions; tariffs and import duties; currency fluctuations
between the U.S. dollar and other currencies, primarily the
Japanese yen, New Taiwan dollar, euro, Chinese yuan, and South
Korean won; product demand and industry capacity; competitive
products and pricing; availability and costs of critical components
and materials; new product development and commercialization; order
activity and demand from major customers; the amount and timing of
our cash flows and earnings and other conditions, which may affect
our ability to pay our quarterly dividend at the planned level or
to repurchase shares at planned levels; possible disruption in
commercial activities due to terrorist activity, cyber-attack,
armed conflict, political or financial instability, natural
disasters, or major health concerns; unanticipated disruption to
equipment, facilities, IT systems or operations; effect of
regulatory and legal developments; ability to pace capital spending
to anticipated levels of customer demand; rate of technology
change; ability to enforce patents and protect intellectual
property and trade secrets; adverse litigation; product and
components performance issues; retention of key personnel; customer
ability, most notably in the Display Technologies segment, to
maintain profitable operations and obtain financing to fund their
ongoing operations and manufacturing expansions and pay their
receivables when due; loss of significant customers; changes in tax
laws and regulations including the Tax Cuts and Jobs Act of 2017;
and the potential impact of legislation, government regulations,
and other government action and investigations.
For a complete listing of risks and other factors, please
reference the risk factors and forward-looking statements described
in our annual reports on Form 10-K and quarterly reports on Form
10-Q. 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 uses 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.
About IVADO
The Institute for Data Valorization
(IVADO) is a joint initiative of HEC Montréal, Polytechnique
Montréal and Université de Montréal that brings together nearly 100
industrial, academic and government partners. With over 1,100
member researchers, IVADO is a multidisciplinary center of advanced
expertise in statistics, artificial intelligence and operations
research.
IVADO's mission is to 1) contribute to the development of an
economic sector in big data processing for decision making; 2)
create privileged partnerships between industry and the
administrative, social and academic sectors; 3) contribute to the
advancement of knowledge and train new generations of data
scientists; and 4) foster exchange and knowledge sharing between
experts, partners, researchers and students. IVADO provides a
framework for six research centers: Canada Excellence Research
Chair in Data Science for Real-Time Decision Making, CIRRELT, CRM,
GERAD, MILA and Tech3Lab.
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SOURCE Corning Incorporated