To: George Gilder who wrote (853 ) 12/4/1998 7:09:00 PM From: Richard H. Respond to of 5853
Joint venture between two telecom companys DS FITEL and Corning Announce Strategic Alliance For Optical Isolators CORNING, N.Y.--(BUSINESS WIRE)--December 4, 1998--JDS FITEL Inc. (TSE:JDS - news), and Corning Incorporated (NYSE: GLW - news), today announced that they have entered into a contractual joint venture to develop and manufacture optical isolators. Both companies will leverage their respective technical and manufacturing expertise to capitalize on the growing demand in the telecommunications industry for optical isolators. Isolators are passive optical devices that are used to reduce reflections, eliminate interference, crosstalk, or other instabilities in optical transmission systems. The primary application for isolators is in optical amplifiers. Under the terms of the agreement, JDS FITEL will design, develop, and manufacture the isolators for the contractual joint venture, from which Corning will source the majority of its needs. In addition, both companies also have agreed to work cooperatively to market optical isolators to third party customers. JDS FITEL's President and CEO, Jozef Straus, commented, \223JDS FITEL is extremely pleased to strengthen its long-standing relationship with Corning with this isolator initiative. We are both at the forefront of optical telecommunications and this strategic alliance will enhance JDS FITEL's market position in the design, development and manufacture of state-of-the-art optical isolator products.\224 Corning's Vice President and General Manager of the Photonic Technologies Division, Gerald J. Fine, said, \223Corning is looking forward to working cooperatively with JDS FITEL. As one of the world's largest users of isolators, Corning Photonic Technologies stands to benefit from the combined capabilities of our two companies as will service providers and end-users.\224 JDS FITEL is a Canadian high technology company that manufactures and distributes a broad range of products for the growing fiber optic communications market. The Company executes its business strategy through its advanced design capabilities, proprietary manufacturing tools and processes and, in particular, its early participation in advancing market and technology trends. JDS FITEL's common shares are listed on The Toronto Stock Exchange under the symbol JDS. More information on JDS FITEL is available at jdsfitel.com Established in 1851, Corning Incorporated creates leading-edge technologies for the fastest-growing segments of the world's economy. Corning manufactures optical fiber, cable and components, high-performance glass and components for television, and other electronic displays for communications and communications related-industries. Corning also manufactures advanced materials for scientific and environmental markets. Corning's total revenues in 1997 were $3.5 billion. More information on Corning is available at corning.com