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Profile: Corning Inc (GLW.N)

GLW.N on New York Stock Exchange

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Corning Incorporated (Corning), incorporated on December 24, 1936, is engaged in the manufacture of specialty glass and ceramics. Corning operates in five segments: Display Technologies, which manufactures glass substrates; Optical Communications, which is engaged in providing optical solutions; Environmental Technologies, which manufactures ceramic substrates and filter products; Specialty Materials, which manufactures products that provide over 150 material formulations for glass, glass ceramics and fluoride crystals, and Life Sciences segment, which is a developer, manufacturer and supplier of scientific laboratory products. The Company manufactures and processes products at approximately 90 plants in over 20 countries. Corning offers its products under the trademarks, including Corning, Celcor, ClearCurve, DuraTrap, Eagle XG, Epic, Gorilla, HPFS, Pyrex, Steuben, Falcon, SMF-28e and Willow.

Display Technologies Segment

Corning's Display Technologies segment manufactures glass substrates for liquid crystal displays (LCDs) that are used in LCD televisions, notebook computers and flat panel desktop monitors. The segment develops, manufactures and supplies glass substrates using a fusion manufacturing process. The automated process yields glass substrates with a pristine surface and thermal dimensional stability and uniformity of LCDs. The Company offers EAGLE XG Slim glass, which is a line of slim glass substrates. Its substrates enable portable devices and thinner televisions, and monitors. It offers Corning Willow Glass, which is an ultra-thin flexible glass for use 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. It offers the family of Corning Lotus Glass, including organic light-emitting diode (OLED) displays and LCDs. Corning has LCD glass manufacturing operations in the United States, South Korea, Japan, Taiwan and China.

The Company competes with Asahi Glass Co. Ltd. and Nippon Electric Glass Co. Ltd.

Optical Communications Segment

The Company's Optical Communications segment is engaged in designing and delivering optical solutions across the communications network. The segment is classified into approximately two product groupings: carrier network and enterprise network. The carrier network product group consists of products and solutions for optical-based communications infrastructure for services, such as video, data and voice communications. The enterprise network product group consists of optical-based communication networks sold to businesses, governments and individuals for their own use.

The Company's carrier network product portfolio involves optical fiber products, including Vascade submarine optical fibers for regional and metropolitan 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 applications, and Corning SMF-28 Ultra Fiber, which is designed for performance across the range of long-haul, metro, access and fiber-to-the-home network applications. 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.

The Company's 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 are 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 Fiber-to-the-Home (FTTH) networks, and the Centrix platform, which provides a fiber management system.

Corning has a line of operator-grade distributed antenna systems (DAS), including the Optical Network Evolution (ONE) wireless platform. ONE is an all-optical converged cellular and wireless fidelity (Wi-Fi) solution built on an all-optical backbone with modular service support. The ONE Wireless Platform provides virtually unlimited bandwidth. Corning's carrier network portfolio also contains select copper-based products, including subscriber demarcation, connection and protection devices, different variations of digital subscriber lines (xDSL) passive solutions and outside plant enclosures. In addition, Corning also 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.

The Company's enterprise network product 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 high-speed interconnects between computers and other consumer electronics devices. The 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 that meet local building code requirements.

Corning's hardware and equipment products for enterprise network applications include cable assemblies, fiber optic hardware, fiber optic connectors, optical components and couplers, closures and other accessories. Its products are sold as individual components or as part of integrated optical connectivity solutions designed for various network applications. Its enterprise network solutions include the Pretium EDGE platform, which provides high-density pre-connectorized solutions for data center applications; the ONE Wireless platform, which spans both carrier and enterprise network applications, and optical connectivity solutions, which supports the customer initiatives.

The Company's optical fiber manufacturing facilities are located in North Carolina, China and India. Its cabling operations include facilities 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.

The Company competes with Commscope and Prysmian Group.

Environmental Technologies Segment

Corning's Environmental Technologies segment manufactures ceramic substrates and filter products for emissions control in mobile and stationary applications around the world. Corning develops ceramic substrate and filter products for gasoline and diesel applications. 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. The use of Corning substrates and filters is required by the specifications of the automotive and diesel vehicle or engine manufacturers.

The Company competes with NGK Insulators, Ltd. and Ibiden Co. Ltd.

Specialty Materials Segment

The Company's Specialty Materials segment manufactures products that provide approximately 150 material formulations for glass, glass ceramics and fluoride crystals. The 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.

The Company offers cover glass, known as Corning Gorilla Glass, a thin sheet glass designed specifically to function as a cover glass for display devices, such as tablets, notebook personal computers (PCs) and mobile phones. Corning Gorilla Glass suite of products include Corning Gorilla Glass 2, Corning Gorilla Glass 3, Corning Gorilla Glass NBT and Corning Gorilla Glass 4. Corning Gorilla Glass is manufactured in Kentucky, South Korea, Japan and Taiwan. The semiconductor optics manufactured by Corning includes optical material products, optical-based metrology instruments and optical assemblies for applications in the 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 or sourced from China.

The Company competes with Schott, Asahi Glass Co. Ltd., Nippon Electric Glass Co. Ltd. and Heraeus.

Life Sciences Segment

Corning's Life Sciences segment collaborates with researchers in the drug discovery process. The Company operates in the fields of materials science, surface science, optics, biochemistry and biology. Its Life Sciences laboratory products include consumables (plastic vessels, specialty surfaces and media), as well as general labware and equipment, which are used for cell culture research, bioprocessing, genomics, drug discovery, microbiology and chemistry. Corning sells life science products under the brands, including Corning, Falcon, PYREX, Axygen and Gosselin. The products are marketed across the world, primarily 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. Corning develops and produces technologies focused on the biologic drug production markets.

The Company competes with Thermo Fisher Scientific, Inc. and Perkin Elmer.

Company Address

Corning Inc

1 Riverfront Plz
CORNING   NY   14831-0001
P: +1607.9749000
F: +1607.9748091

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