Corning expands in Italy:
corning.com
Corning, New York, February 8, 2001 -- Corning Incorporated (NYSE:GLW) today announced that its board of directors approved a $150 million capital investment plan to enhance and expand the recently acquired Corning Optical Technologies Italia (Corning OTI) operations, formerly owned by Pirelli. The investment will allow the company to significantly increase its capacity in lithium niobate modulators, pump lasers, certain specialty fibers, and fiber gratings, all key elements of Corning’s expanding portfolio of optical networking products.
The Corning OTI optical component device manufacturing operations affected by this investment are being relocated to San Donato near Milan, Italy from their current location in Bicocca, Italy. The new facility is expected to be fully operational and its employment level doubled by the end of 2001. The new location will be equipped with state of the art manufacturing equipment and technologies in order to meet the explosive market demand for Corning’s new lines of photonic products. . . .
Even more to expand in US:
corning.com
Corning, New York, February 7, 2001 -- Corning Incorporated (NYSE:GLW) announced today that its board of directors has approved a plan to invest approximately $400 million to build its sixth optical fiber manufacturing facility, in Oklahoma City, Oklahoma. Initial fiber production is expected in 2004. When fully operational, the plant will employ several hundred people.
In making the announcement, Corning Incorporated’s Chief Executive Officer, John Loose stated, "Optical fiber is the foundation of our optical layer strategy and a key enabler for driving down the cost of bandwidth. We continue to believe that the demand for optical fiber worldwide remains robust and are investing accordingly. . . . "
Qwest announces dividend:
qwest.com
Denver, February 8, 2001 - Qwest Communications International Inc. (NYSE:Q), the broadband Internet communications company, today announced that it intends to pay a dividend of five cents per share on its common stock on or before June 30, 2001, the first anniversary date of its acquisition of U S WEST, Inc.
Qwest Board of Directors intends to declare the dividend and establish the record date and payment date for the dividend at its scheduled meeting on May 2, 2001. Qwest expects to announce the dividend declaration following that meeting.
Updated registration for Agere [note 25% optical components and 75% semiconductor/wireless]:
freeedgar.com
We are a leader in the sale of active optoelectronic components to manufacturers of communications equipment. Optoelectronic components transmit, process, change, amplify and receive light that carries data and voice traffic over optical networks. Optical networks transmit information as pulses of light, or optical signals, through optical fibers, which are hair-thin glass strands. An optical network utilizes a number of interdependent active optoelectronic and passive optical components. An active component is a device that has both optical and electronic properties. A passive component is a device that functions only in the optical domain. In addition to our broad portfolio of active optoelectronic components, we have started to sell some passive components. In fiscal 2000, we derived $1.2 billion, or 25.5% of our revenue, and incurred an operating loss of $127 million, from sales of our optoelectronic components.
We offer integrated circuits for use in a broad range of communications networks and computer equipment. Integrated circuits, or chips, are made using semiconductor wafers imprinted with a network of electronic components. They are designed to perform various functions such as processing electronic signals, controlling electronic system functions and processing and storing data. In fiscal 2000, we derived $3.5 billion, or 74.5% of our revenue, and generated operating income of $283 million, from sales of our integrated circuits and our wireless local area networking products.
|
