Corning to Open New Photonic Components Manufacturing Facility
CORNING, N.Y., Aug 17, 2000 (BUSINESS WIRE) --
Henrietta, NY plant will employ 440 people and more than double
company's capacity in fiber-based passive components
Corning Incorporated (NYSE:GLW), an industry-leading manufacturer and supplier
of optical fiber and photonic products, announced today that it will open a
passive components manufacturing facility to be located in Henrietta, New York,
just south of Rochester. The company will initially invest approximately $80
million over the next 12 to18 months to double its production of fiber-based
passive components, which are part of optical amplifiers used in communications
networks. When fully operational, the plant will employ 440 people. Production
is slated to begin by early-2001.
Demand for Corning's fiber based passive components continues to increase,
fueled by erbium-doped fiber and Raman optical amplifiers. Fiber based passive
components are part of the broad photonic product portfolio supporting Corning's
position as a leading optical layer company.
In making the announcement Corning's Chairman and Chief Executive Officer, Roger
G. Ackerman stated, "Today, Corning has taken another step in its evolution of
becoming the world's leading supplier of photonic modules and optical
components. This facility will centralize our core competencies for
manufacturing passive components and provide a basis for the future growth of
this business. One reason for choosing this site is the excellent potential for
expansion." Ackerman went on to acknowledge the support of state and local
officials that made it possible for Corning to locate a significant
manufacturing operation in Henrietta.
New York State Governor George Pataki stated, "Rochester's economic resurgence
is based on the depth and breadth of high-tech industries. Corning's decision to
locate their first passive photonic components plant and create 440 new jobs in
Henrietta expands this dynamic business community's strength and momentum."
Established in 1851, Corning Incorporated (www.corning.com) creates leading-edge
technologies for the fastest-growing markets of the world's economy. Corning
manufactures optical fiber, cable and photonic products for the
telecommunications industry; and high-performance displays and components for
television and other communications-related industries. The company also uses
advanced materials to manufacture products for scientific, semiconductor and
environmental markets. Corning's revenues in 1999 were $4.7 billion. |
