Corning Incorporated to Build New Manufacturing Facility Near Charleston, South Carolina
CORNING, N.Y., Sept. 4 /PRNewswire/ -- Corning Incorporated (NYSE: GLW) today announced, pending Board of Directors approval, that it will build a new $75 million manufacturing facility near Charleston, South Carolina. The plant will manufacture High Purity Fused Silica, an ultra-pure glass for high- performance optical applications, including lens assemblies used in the manufacture of microprocessors. The new facility will be located 15 miles north of Charleston in Berkeley County. Construction is expected to begin in the next several weeks, with initial production targeted before the end of the first quarter in 1998. Corning estimates the 150,000 square-foot plant will initially employ 150 people. "The tremendous growth in demand for Corning's High Purity Fused Silica, particularly by producers of microlithographic steppers that are used by the semiconductor industry, has driven our decision to build additional manufacturing capacity," said Norman E. Garrity, president, Corning Technologies, Corning Incorporated. "This new investment in the Charleston plant will complement our current manufacturing operations in New York." Established in 1851, Corning Incorporated creates leading-edge technologies for the fastest growing segments of the world's economy. For communications and communications-related industries, Corning manufactures optical fiber, cable and photonic components, high-performance glass and components for televisions, and other electronic displays and equipment; advanced materials for scientific and environmental markets; and consumer products. Corning's total revenues in 1996 were $3.7 billion.
SOURCE Corning Incorporated
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