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

To: John Trader who wrote (1496)	10/14/2001 12:22:45 AM
From: Ibexx	Respond to of 2260

Corning may be on the move: Message 16500732 Ibexx

To: John Trader who wrote (1496)	10/17/2001 3:54:58 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 2260

Not necessarily FO related, but GLW related: Corning to Open New Diesel Clean-Air Products Manufacturing Facility in 2004 Stricter Air Quality Control Regulations Increase the Demand for Corning Diesel Products CORNING, N.Y.--(BUSINESS WIRE)--Oct. 17, 2001--Corning Incorporated (NYSE:GLW - news), a leading supplier of diesel substrates and particulate filters, announced today that its board of directors has approved the construction of a new diesel emission control product manufacturing facility. The new plant, to be located in Erwin, NY, will use advanced manufacturing technologies and processes to produce both diesel filters and diesel catalyst substrates. Construction is scheduled to begin by early 2002, with initial production of substrate and filter products expected in early 2004. ``As global demand increases for stricter regulation of emissions, Corning is committed to helping diesel vehicle manufacturers meet these tighter standards,'' said Corning's President and CEO, John Loose. ``The worldwide market for substrates and filters for diesel applications is expected to reach approximately $1.5 billion by 2008. With initiatives such as our new plant announced today, Corning expects to continue on as a leading supplier in this market.'' ``We are preparing to fill the diesel industry's future needs by anticipating tomorrow's requirements today,'' added Steve Suttle, Corning Environmental Technologies vice president. ``Coupled with our extensive diesel emissions product design, modeling and testing capabilities, this new plant will enable Corning's customers to meet the strong and growing demand for clean-diesel vehicles.'' Having received board approval, the company plans to invest approximately $200 million in the new plant over a five-year period beginning this year. Demand for diesel emission-control products continues to increase as stricter air quality control regulations are implemented. These regulations include U.S. legislation scheduled for implementation in 2004 and 2007, as well as European standards set for 2005 and anticipated for 2008. Corning is a leading supplier of advanced catalytic converter substrates or particulate filters to all of the world's major vehicle manufacturers. The company invented an economical, high-performance cellular ceramic substrate in the early 1970s that is now the standard for catalytic converters worldwide. In 1978, Corning developed the cellular ceramic particulate filter to remove soot from diesel emissions. To learn how Corning substrates and particulate filters clean diesel emissions, visit: www.corning.com/discovery_center/. 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, information technology and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. Corning revenues for 2000 were $7.1 billion. Forward-Looking and Cautionary Statements Except for historical information and discussions contained herein, statements included in this release may constitute ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause results to differ materially, as discussed in the company's filings with the Securities and Exchange Commission.