Corning Makes $1.8Bn Offer For Laser Maker

Corning, the US group that is the world's biggest maker of optical fibre, recently mounted a $1.8bn acquisition to boost its presence in the fast-growing market for optical networking equipment. The purchase, of laser manufacturer Oak Industries, caps a strong run-up in Corning's share price this year that has left it in a position to launch its biggest acquisition to date. Together with its own fibre manufacturing facilities, and existing components that manage the movement of signals on an opical network, the purchase would leave the company with all the technology needed to make a fibre-optic system, said John Loose, president of Corning's communications division.