Corning Embarks on Joint Research - Analyst Blog
29 Giugno 2011 - 7:12PM
Zacks
Corning Inc. (GLW) announced the opening of a
research facility in China, jointly with the Shanghai Institute of
Ceramics and Chinese Academy of Sciences (SICCAS). The facility is
located in the Research and Development Center of SICCAS in
Jiading, Shanghai.
SICCAS is China's leading research institute in the fields of
material science and technology. Its innovations can be used to
develop new and improved products that will address requirements in
China and abroad.
The SICCAS-Corning facility will take up technical challenges to
address developmental issues worldwide. For this, the company and
the academic establishments will pool their knowledge bases and
research capabilities to produce cutting edge products.
Additionally, thermoelectric technology research will aid in the
discovery of high-performance materials for electrification of
vehicles, enabling fuel efficiency and lower vehicle emission.
As the world leader in specialty glass and ceramics, Corning has
built up its presence in China over the last three decades. We
believe China will remain an important growth market and generate
significant growth for Corning in the future. The lower-cost labor
should also have a positive impact on the company’s bottom
line.
Additionally, the company also opened an Advanced Technology
Center in Taiwan. The facility will serve as a customer-focused
applications engineering and design center in Asia. Equipped with
outstanding glass technology capabilities and experienced
personnel, the Corning Advanced Technology Center will extend
product design and developmental support to the fast-paced consumer
electronics industry.
Corning’s innovations and technologies help it to deliver
improved results and maintain a position in an increasingly
competitive market. Corning delivered a strong fiscal first
quarter, beating the Zacks Consensus Estimates on both top and
bottom lines.
However, Corning faces significant competition due to excess
capacity in the market place, price pressure and product launches.
For hardware and equipment products, significant competitors are
3M Company (MMM), Tyco Electronics,
Ltd. (TEL), Furukawa OFS, CommScope, and ADC
Communications.
We have a Neutral recommendation on Corning over the long term
(for the next 6 to 12 months). Currently, Corning has a Zacks #3
Rank, which implies a Hold rating on a short-term basis.
CORNING INC (GLW): Free Stock Analysis Report
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