Corning Incorporated (GLW) Message Board

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Technology Stocks : Corning Incorporated (GLW)

GLW 88.32

-8.0%

Dec 12 9:30 AM EST

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To: t2 who wrote (399)	2/3/2000 5:40:00 PM
From: Brian Sullivan	of 2260

And the Wall Street Journal article: Corning to Pump $750 Million Into Its Fiber-Optics Business An INTERACTIVE JOURNAL News Roundup CORNING, N.Y. -- Faced with booming demand for products that can handle the explosion of traffic on Internet networks, Corning Inc. announced a plan Thursday to spend $750 million to expand and enhance the company's optical-fiber manufacturing capabilities. Corning said it expects the expansion to increase its capacity by more than 50%. Corning is already the world's biggest maker of fiber-optic lines and a leader in making the complex components that piece together optical networks. Corning holds an estimated 40% of the global market, or about twice the reach of its next closest competitor, Lucent Technologies Inc. Corning's multiyear plan includes equipment enhancements or plant expansions or both at the company's Concord and Wilmington, N.C. plants and its plant in Noble Park, Australia. The company cited the need to keep pace with demand for its optical fiber products while allowing for new product development and commercialization. The global expansion of fiber-optic networks and the need for greater bandwidth has pushed up demand for Corning's optic fibers, especially overseas. Corning, which had $4.37 billion in revenue in 1999, makes optical fiber, cable and photonic products for the telecommunications industry, and sells high-performance displays and components for the television and other communications-related industries.

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