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Technology Stocks : Corning Incorporated (GLW) -- Ignore unavailable to you. Want to Upgrade?

To: Michael P. Michaud who wrote (1021)	10/27/2000 11:38:07 AM
From: Jim Greif	Respond to of 2260

FYI, Jim Friday October 27, 9:47 am Eastern Time Press Release Corning Frequency Control Expands Manufacturing for Voltage Controlled Crystal Oscillators in China Corning's Micro 57 Production Capacity to Increase 600% Over the Next Two Years CORNING, N.Y.--(BUSINESS WIRE)--Oct. 27, 2000--Corning Frequency Control, a division of Corning Incorporated (NYSE:GLW - news), has established a new wholly owned foreign enterprise (WOFE) located in Shanghai, China to manufacture Voltage Controlled Crystal Oscillators (VCXOs). Scheduled for completion in December of this year, this new facility, Corning Frequency Control (Shanghai) Ltd., will be located in China's Pudong Free Trade Zone. The new company will be a state of the art manufacturing facility, focused on production of 5x7 millimeter VCXOs to meet the rapidly growing needs of the Data and Telecommunications markets. The $10 million investment will include a class 10,000 clean room. VCXOs are used for clocking and data recovery at the line interfaces of data transmission equipment. ``The exploding market for 5X7mm VCXOs provides a unique opportunity to leverage our strategic worldwide capabilities and establish a clear leadership position in this new product offering,'' said Howard Zingler, Corning's division vice president and deputy general manager-Controls and Connectors Division. Corning Frequency Control designs and manufactures precision crystal oscillators, resonators, and filters that serve as stable frequency references for a broad range of wireless and wireline communications technologies. Applications include cellular, personal communications systems (PCS), wireless base stations, telecom switching systems, and WAN/LAN equipment, including optical networking, test instrumentation, and satellite communications. For more information, contact a Corning Frequency Control representative at (717) 486-3422, or visit the company's website at www.corning.com/frequency. 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 revenues for 1999 were $4.7 billion. Contact: Corning Investor Relations: Katherine M. Dietz 607/974-8217 dietzkm@corning.com or Corning Media Relations: Paul A. Rogoski 607/974-8832 rogoskipa@corning.com or Corning Frequency Control Inc.: James Evans 717/486-3411 jevans@ofc.com