Corning Opening New Components Plant

CORNING, N.Y. -- Corning Incorporated (NYSE:GLW), an industry-leading manufacturer and supplier of optical fiber and photonic products, announced today that it will open a passive components manufacturing facility to be located in Henrietta, New York, just south of Rochester. The company will initially invest approximately $80 million over the next 12 to18 months to double its production of fiber-based passive components, which are part of optical amplifiers used in communications networks. When fully operational, the plant will employ 440 people. Production is slated to begin by early-2001.

In making the announcement Corning's Chairman and Chief Executive Officer, Roger G. Ackerman stated, "Today, Corning has taken another step in its evolution of becoming the world's leading supplier of photonic modules and optical components. This facility will centralize our core competencies for manufacturing passive components and provide a basis for the future growth of this business."

http://www.corning.com.