Acquisition supports optical communications growth in Asia
CORNING, N.Y., March 31, 2015 – Corning Incorporated (NYSE: GLW) announced today that it has completed the previously announced acquisition of Samsung Electronics Co., Ltd.’s fiber optics business.
Samsung Electronics is a trusted provider of optical fiber, cable, and connectivity for customers in South Korea, China, and Southeast Asia. Corning will integrate Samsung Electronics’ fiber optics business, with manufacturing facilities in Gumi, South Korea, and in Hainan, China, into the Corning Optical Communications business segment. The acquisition augments Corning’s market access and enhances its broad portfolio of optical communications products in Asia.
“We welcome Samsung Electronics’ talented team to Corning, and together we look forward to expanding Corning’s global presence to better meet customer needs for innovative fiber optic solutions,” said Clark S. Kinlin, executive vice president, Corning Optical Communications. “We are enthusiastic about the opportunities this operation provides in Korea and throughout Southeast Asia.”
About Corning Incorporated
Corning (www.corning.com) is one of the world’s leading innovators in materials science. For more than 160 years, Corning has applied its unparalleled expertise in specialty glass, ceramics, and optical physics to develop products that have created new industries and transformed people’s lives. Corning succeeds through sustained investment in R&D, a unique combination of material and process innovation, and close collaboration with customers to solve tough technology challenges. Corning’s businesses and markets are constantly evolving. Today, Corning’s products enable diverse industries such as consumer electronics, telecommunications, transportation, and life sciences. They include damage-resistant cover glass for smartphones and tablets; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for high-speed communications networks; trusted products that accelerate drug discovery and manufacturing; and emissions-control products for cars, trucks, and off-road vehicles.