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Technology Stocks : JDS Uniphase (JDSU)
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To: pat mudge who wrote (11027)6/26/2000 10:30:00 AM
From: Boplicity  Read Replies (1) of 24042
 
ENVER, June 26 (Reuters) - Fiber optics company Corning Inc. <GLW.N> on Monday said it had won a four-year supply deal worth more than $1 billion to sell optical fiber to networking startup Aerie Networks, which is building a nationwide, high-speed fiber optic system.

The agreement covers 8.9 million fiber miles and makes Aerie Corning's largest customer for its Leaf fiber, Corning said.

Under the supply agreement, Corning will supply Denver-based Aerie, founded last year, with optical fiber for its planned 20,000 mile nationwide broadband network. Aerie will begin laying conduit later this summer and plans to complete its network buildout in 2004, the company said.

Corning's Leaf fiber allows higher levels of power to be transmitted through the fiber while gaining greater capacity, distance and lower system cost.

After an opening delay because of an imbalance of orders, Corning shares were up 4-11/16 at 244-3/4 on the New York Stock Exchange.
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