HICKORY, N.C. -- Corning Incorporated (NYSE: GLW - news) announced today that its wholly owned subsidiary, Corning International Corporation, has entered into an equity venture frame agreement with Vietnam Post and Telecommunications Corporation (VNPT), the government telecommunications provider in Vietnam. Terms of the agreement, which is subject to Vietnamese government approvals, were not disclosed.

The new venture will continue to manufacture fiber optic cable for telecommunications under the name Fibre Optic Cable and Accessories Limited (FOCAL). The joint venture is the result of Corning Incorporated's acquisition of Siemens' Optical Fiber and Cable businesses earlier this year. These businesses are now part of the Corning Cable Systems group.

"We are excited to be a part of this first joint venture between VNPT and an American company," said Jim Cooke, Senior Vice President, Strategic Planning and Business Development, Corning Cable Systems. "FOCAL has a strong tradition of quality in optical cable manufacturing and this will be enhanced by Corning Cable Systems' optical fiber cable expertise and solid technical capabilities. Our collective strengths position us to provide state-of-the-art telecommunications products and superior customer service for the growing demand in Vietnam," Cooke concluded.

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