Corning Invests $225 Million in Expansion

Investment triples capacity at Corning Lasertron

July 13, 2000

1 Min Read

CORNING, NY---Corning Incorporated (NYSE:GLW) announced today that its board of directors has approved a $225 million expansion of Corning Lasertron in order to increase the company's capacity for its amplification and transmission products, including pump lasers, transmission lasers and receivers. The investment underscores Corning's plan to build its position as an industry-leading optical layer company.

Additionally, Corning invested $45 million, announced on April 27, 2000, to expand Corning Lasertron's Oak Park facility in Bedford, MA. This doubled the existing capacity. In aggregate these two expansions, for a total investment of $270 million, will increase the existing capacity of Corning Lasertron products by six times over the next two years and will create approximately 1,150 new jobs. The additional expansion will require the construction of a new factory. Site selection will be determined in August 2000.

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