Profile: Corning Inc (GLW.N)
24 Mar 2017
Corning Incorporated (Corning), incorporated on December 24, 1936, is engaged in manufacturing specialty glass and ceramics. The Company's segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Company provides glass for notebook computers, flat panel desktop monitors, liquid crystal display (LCD) televisions, and other information display applications; carrier network and enterprise network products for the telecommunications industry; ceramic substrates for gasoline and diesel engines in automotive and heavy duty vehicle markets; laboratory products for the scientific community and specialized polymer products for biotechnology applications; optical materials for the semiconductor industry and the scientific community, and other technologies. As of December 31, 2016, the Company had manufactured products at 98 plants in 17 countries.
Corning's Display Technologies segment manufactures glass substrates for LCDs that are used in LCD televisions, notebook computers and flat panel desktop monitors. This segment develops, manufactures and supplies glass substrates using a fusion manufacturing process. Its automated process yields glass substrates with a pristine surface and thermal dimensional stability and uniformity. Its products include EAGLE XG, EAGLE XG Slim glass, Corning Willow Glass and Lotus Glass. EAGLE XG is the LCD glass substrate.
EAGLE XG is a LCD glass substrate that is free of heavy metals. EAGLE XG Slim glass is a line of thin glass substrates, which enables lighter-weight portable devices, and thinner televisions and monitors. Corning Willow Glass is used in consumer electronic technologies, including curved displays for immersive viewing or mounting on non-flat surfaces. This glass is also used in a range of non-display applications, such as decorative laminates for interior architecture and semiconductor packaging. The family of Corning Lotus Glass, display glass developed to enable technologies, including organic light-emitting diode (OLED) displays and LCDs. Corning has LCD glass manufacturing operations in South Korea, Japan, Taiwan and China.
The Optical Communications segment is classified into two main product groupings: carrier network and enterprise network. The carrier network group consists of products and solutions for optical-based communications infrastructure for services, such as video, data and voice communications. The enterprise network group consists of optical-based communication networks sold to businesses, governments and individuals for their own use. Its carrier network product portfolio consists of an array of optical fiber products, including Vascade submarine optical fibers for use in submarine networks; LEAF optical fiber for long-haul, regional and metropolitan networks; SMF-28 ULL fiber for long-haul and regional networks; SMF-28e+ single-mode optical fiber that provides additional transmission wavelengths in metropolitan and access networks; ClearCurve ultra-bendable single-mode fiber for use in multiple-dwelling units and fiber-to-the-home (FTTH) applications, and Corning SMF-28 Ultra Fiber, designed for a range of long-haul, metro, access and FTTH network applications. A portion of its optical fiber is sold directly to end users and third-party cablers globally. Corning's remaining fiber production is cabled internally and sold to end users as either bulk cable or as part of an integrated optical solution. Corning's cable products support various outdoor, indoor/outdoor and indoor applications, and include a range of loose tube, ribbon and drop cable designs with flame-retardant versions available for indoor and indoor/outdoor use.
In addition to optical fiber and cable, its carrier network product portfolio also includes hardware and equipment products, including cable assemblies, fiber optic hardware, fiber optic connectors, optical components and couplers, closures, network interface devices and other accessories. These products may be sold as individual components or as part of integrated optical connectivity solutions designed for various carrier network applications. Its solutions include FlexNAP terminal distribution system, which provides pre-connectorized distribution and drop cable assemblies for deploying FTTH networks and the Centrix platform, which provides a fiber management system with jumper routing that can be deployed in a range of carrier switching centers.
Corning offers operator-grade distributed antenna systems (DAS), including Optical Network Evolution wireless platform. The ONE Wireless Platform (ONE) is the all-optical converged cellular and wireless-fidelity (Wi-Fi) solution built on an all-optical backbone with modular service support. In addition to its optical-based portfolio, Corning's carrier network portfolio also contains select copper-based products, including subscriber demarcation, connection and protection devices, x Digital Subscriber Line (xDSL) passive solutions and outside plant enclosures. In addition, Corning offers coaxial radio frequency (RF) interconnects for the cable television industry, as well as for microwave applications for global positioning system (GPS), radars, satellites, manned and unmanned military vehicles, and wireless and telecommunications systems.
Corning's enterprise network portfolio also includes optical fiber products, including ClearCurve ultra-bendable multimode fiber for data centers and other enterprise network applications; InfiniCor fibers for local area networks, and ClearCurve VSDN ultra-bendable optical fiber designed to support interconnects between computers and other consumer electronics devices. The remainder of Corning's fiber production is cabled internally and sold to end users as either bulk cable or as part of an integrated optical solution. Corning's cable products include a range of tight-buffered, loose tube and ribbon cable designs with flame-retardant versions available for indoor and indoor/outdoor applications.
Corning's hardware and equipment for enterprise network applications include cable assemblies, fiber optic hardware, fiber optic connectors, optical components and couplers, closures and other accessories. These products may be sold as individual components or as part of integrated optical connectivity solutions designed for various network applications. It includes Pretium EDGE platform, which provides pre-connectorized solutions for data center applications; ONE, which spans both carrier and enterprise network applications, and optical connectivity solutions to support customer initiatives. Its optical fiber manufacturing facilities are located in North Carolina, China and India. Cabling operations are located in North Carolina, Germany, Poland, China and smaller regional locations. Its manufacturing operations for hardware and equipment products are located in Texas, Arizona, Mexico, Brazil, Denmark, Germany, Poland, Israel, Australia and China.
Corning's Environmental Technologies segment manufactures ceramic substrates and filter products for emissions control in mobile and stationary applications around the world. Corning manufactures substrate and filter products in New York, Virginia, China, Germany and South Africa. Corning sells its ceramic substrate and filter products to catalyzers and manufacturers of emission control systems who then sell to automotive and diesel vehicle or engine manufacturers.
As of December 31, 2016, the Specialty Materials segment manufactured products, which provided more than 150 material formulations for glass, glass ceramics and fluoride crystals. This segment operates in a range of commercial and industrial markets that include display optics and components, semiconductor optics components, aerospace and defense, astronomy, ophthalmic products, telecommunications components and cover glass that is optimized for portable display devices.
Its cover glass, known as Corning Gorilla Glass, is a thin sheet glass designed specifically to function as a cover glass for display devices, such as mobile phones, tablets and notebook personal computers (PCs). It offers Corning Gorilla Glass 5, which is designed to provide further protection against breakage. Corning Gorilla Glass is manufactured in Kentucky, South Korea, Japan and Taiwan. Semiconductor optics manufactured by Corning includes optical material products, optical-based metrology instruments and optical assemblies for applications in the global semiconductor industry. Corning's semiconductor optics products are manufactured in New York. Its other specialty glass products include glass lens and window components and assemblies and are made in New York, New Hampshire, Kentucky and France, and sourced from China.
The Life Sciences segment develops, manufactures and supplies scientific laboratory products. Life Sciences laboratory products include consumables (plastic vessels, specialty surfaces and media), as well as general labware and equipment, that are used for cell culture research, bioprocessing, genomics, drug discovery, microbiology and chemistry. Corning sells life science products under primary brands, including Corning, Falcon, PYREX, Axygen and Gosselin. The products are marketed through distributors to pharmaceutical and biotechnology companies, academic institutions, hospitals, government entities and other facilities. Corning manufactures these products in the United States in Maine, New York, New Jersey, California, Utah, Virginia, Massachusetts and North Carolina, and outside of the United States in Mexico, France, Poland and China.
The All Other segment consists of Corning's Pharmaceutical Technologies business, non-LCD glass business, and product lines and development projects. It also includes certain corporate investments, such as Eurokera and Keraglass equity affiliates.
The Company competes with Asahi Glass Co. Ltd., Nippon Electric Glass Co. Ltd., Commscope, Prysmian Group, NGK Insulators, Ltd., Ibiden Co. Ltd., Schott, Heraeus, Thermo Fisher Scientific, Inc., Greiner Group AG, Eppendorf AG and Sarsedt AG.
1 Riverfront Plz
CORNING NY 14831-0001
Company Web Links
- BRIEF-Corning Inc's CEO Wendell P. Weeks 2016 total compensation was $11.3 million
- Apple says it spent $50 billion last year with U.S. suppliers
- BRIEF-Corning collaborates with Micromax for its Vdeo smartphones
- BRIEF-Corning Inc increases quarterly dividend by 14.8 percent to $0.155per share
- Dow Chemical's revenue rises 14 pct on Dow Corning deal