More Optical Fibre Capacity Planned

Corning is planning to build a 17,000m2 plant for the production of optical fibre components. The site is likely to be in Erwin, NY, close to Corning and may employ up to 1000 people. Initial deliveries of components produced at the plant are expected by the end of 1997. The company has also revealed that its second US optical fibre factory will be sited at Concored, North Carolina. It is expected that several hundred million dollars will be invested in the new facility. Corning's 1996 results show a net income of $342.9m, compared with a net loss of $71.5m in 1995. Sales rose by 12% compared with 1995 figures to $3.7bn against $3.3bn. (whole item)