Corning Wins NBN Deal

MELBOURNE, Australia -- Corning Cable Systems Pty. Ltd., part of Corning Incorporated’s (NYSE:GLW) Telecommunications segment, today announced that Corning has been selected as a primary supplier of optical fiber cable and hardware to NBN Co for the Australian government’s National Broadband Network (NBN) initiative to bring high-speed broadband services to residential single-family homes (SFU) and apartment buildings or multi-dwelling units (MDU).

NBN intends to pass 93 percent of Australian homes and businesses (roughly 12 million, of which more than 30 percent are MDUs) with an open-access optical fiber network providing download speeds of 100 megabits per second within the next 10 years. Corning Cable Systems Pty. Ltd. and NBN Co have signed a contract for the supply of optical cable and hardware valued at up to AUS $310 million over five years.

This award supplements the NBN Co contract awarded to Corning Cable Systems Pty. Ltd. in January 2011 for the supply of optical fiber cable and hardware for single-family residences valued at up to AUS $1.2 billion. As part of the January contract, Corning announced that it will invest approximately AUS $25 million in its Clayton, Melbourne facility, related equipment, and personnel training. Additionally, it was announced that Corning Cable Systems Pty. Ltd. expects to add 300 to 400 jobs at the location during peak years.

Corning Cable Systems LLC (CCS)