UPDATE 1-Corning says target of DOJ antitrust probe
MARCH 30 - Corning Inc said on Friday it received a subpoena from the Department of Justice for documents related to automotive parts for which it manufacturers components.
Corning said it received a grand jury subpoena requesting information as part of an investigation into possible antitrust law violations.
The subpoena, issued in the United States District Court for the Eastern District of Michigan, requests information regarding numerous parts installed in automobiles, including catalytic converter substrates and diesel particulate filters for automobiles.
Corning makes ceramic substrates at the heart of catalytic converters in diesel and gasoline-powered engines. The company said it cannot estimate the financial impact of the investigation, but said antitrust investigations can lead to significant penalties.
The company will cooperate with the investigation, but "will not speculate on the cause of the investigation," Corning spokeswoman Beth Dann said in a statement.
Corning shares were flat in after-hours trading at $14.08.
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