Corning Announces Expansion Of Its Optical Fiber Manufacturing Facility In China

Corning Incorporated (NYSE:GLW) today announced plans to expand its optical fiber manufacturing facility in China.

The decision is based on continued growth in the China optical fiber market."The optical fiber market in China is expected to more than double in annual volume this decade driven by increasing need for the widespread deployment of high-speed, broadband optical communications networks," said Martin J.Curran, senior vice president and general manager, Corning Optical Fiber. "The expansion of our Shanghai facility will ensure that we have adequate capacity to meet this opportunity and maintain our strong position in the China optical fiber market."

"For more than 20 years, as China's communications infrastructure evolved to fiber-optic networks, Corning has played an important role and provided technologically advanced optical fiber as the foundation of a large percentage of China's nationwide communications backbone," said Eric S. Musser, chief executive officer, Corning Greater China. "Today we are announcing another significant milestone which further strengthens Corning's commitment to produce the highest-quality optical fiber in this region."

The expansion of Corning's Shanghai optical fiber manufacturing facility will begin immediately and is expected to be completed in 2009. Corning also manufactures optical fiber in Wilmington, N.C., the world's largest optical fiber plant. The company also recently announced plans to partially open its optical fiber plant in Concord, N.C., due to continued growth of the worldwide optical fiber market.

600450 Corning Announces Expansion Of Its Optical Fiber Manufacturing Facility In China
Date: 20 July 2007
Source: Corning

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