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Strategies & Market Trends : Contrarian Investing -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (607)	10/26/2006 11:03:06 PM
From: pcyhuang	Respond to of 4080

Re: GLW/Harry Lew Good observation. Thanks! pcyhuang

To: Johnny Canuck who wrote (607)	10/26/2006 11:16:27 PM
From: E_K_S	Respond to of 4080

Hi Harry - GLW has an emerging pollution control division. They invested over $100 million into a Chinese factory to produce new catalytic diesel filters (http://www.corning.com/environmentaltechnologies/media-center/press-releases/2005072002.aspx). These devises will be deployed in Europe first and then into the U.S. fleet in late 2008-early 2009. This one division could add up to $0.10/share per quarter. "...Corning is a leading supplier of advanced catalytic converter substrates and particulate filters to all of the world's major manufacturers of gasoline and diesel engines and vehicles. 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...". The earnings from this division could surpass their LCD group. Their Biotech unit has some interesting products in the works. None are really producing any significant revenue but I do recall they have some DNA/gene testing equipment that could leap frog the current state-of-the-art. I picked up a very large position in GLW on the sell off at $5.00-$8.00 when they lost millions in their fibre investment. I continue to hold and believe $50.00 is a fair price target in 18-24 months once all their divisions are generating bottom line income. GLW's free flow cash flow is actually very good and positive. The company continues to make huge capital investments financed out of their cash flow and a small amount of debt. This includes new pollution control facility and new LCD fabrication facility both located in China. EKS