Corning Announces Partial Reopening of its Concord, N.C., Optical Fiber Manufacturing Facility
25 Aprile 2007 - 12:45PM
Business Wire
Corning Incorporated (NYSE:GLW) today announced plans to reopen a
portion of its Concord, N.C., optical fiber manufacturing facility.
As previously stated, the company expects it will take
approximately six to nine months to restart fiber manufacturing.
Production will be paced to meet market demand. �The optical fiber
market has witnessed volume growth of greater than 15 percent in
each of the last two years,� said Eric S. Musser, vice president
and general manager of Corning Optical Fiber. �Over 80 percent of
worldwide fiber demand now comes from the access and metro
segments, and we expect to see continued market growth. The partial
start-up of our Concord facility will ensure that we have adequate
capacity to capture this expanding market opportunity.� Another
factor in the decision to partially reopen Concord is the growth in
demand for Corning semiconductor materials products. In addition to
optical fiber, Corning also manufactures high-purity fused silica
for semiconductor lithography applications at its Wilmington, N.C.,
facility. Corning�s semiconductor business is growing at
double-digit rates, resulting in the need for increased specialty
glass capacity in Wilmington. This demand has displaced some of
Wilmington�s fiber making capacity. �The manufacturing process at
the Wilmington facility produces innovative specialty glass for
challenging microlithography applications. The lithographic
industry is expected to show continued growth with higher
semiconductor content in consumer electronics,� said James R.
Steiner, senior vice president and general manager of Corning
Specialty Materials. 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.
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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