Corning - Asian Optical Fibre Venture

Corning Inc has recently announced the creation of Biccor Pte. Ltd., a holding company which will be 40% owned by its subsidiary Corning Int. Corp., and 60% owned by BICC Cables-Asia Pacific Pte. Ltd. (BCAP). Biccor will hold investments in and manage optical fibre cable plants in South East Asia and China. In particular, it will identify and invest in optical fibre cable opportunities in individual markets, act as a "turnkey" in building and commissioning manufacturing facilities, and supervise each cable venture's operations. Biccor, which will be based in Singapore, will consider both greenfield and existing optical fibre cable ventures. Corning's total revenues from continuing operations in 1995 were US$3.3bn.