Expansion Will Help Company to Meet Global Supply of Ceramic Substrates
CORNING, N.Y., Nov. 27 /Xinhua-PRNewswire/ -- Corning Incorporated (NYSE: GLW) today celebrated the completed expansion of its clean-air products facility, Corning Shanghai Company, Ltd. (CSCL) in Shanghai, China. The additional capacity will help Corning to increase its manufacturing capabilities to meet anticipated local and global demand for advanced ceramic substrates for light-duty vehicle applications. Corning's Board of Directors approved a capital expenditure of approximately $15 million for the expansion in March 2006.
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"We are delighted to celebrate this important achievement with our customers, members of the Chinese government and our dedicated employees," said Corning's President and Chief Operating Officer Peter Volanakis, who presided at the event. "This investment further demonstrates Corning's continued support of the Greater China region. It also increases our ability to meet the demands of customers throughout Asia and the rest of the world."
The future growth of light-duty ceramic substrates, the heart of catalytic converters, will be driven by the global adoption of new and tighter emissions control regulations. Corning's advanced ceramic substrates are robust, monolithic products that deliver high performance and reduced engine-out emissions. Corning's Celcor(R) product portfolio includes standard, thin-wall and ultra-thinwall substrates.
"The advanced ceramic substrates that we manufacture at CSCL help our customers meet tightening emissions regulations," said Thomas Appelt, vice president and general manager, Automotive Technologies, Corning Incorporated. "In addition, our highly skilled sales and engineering teams provide technical expertise to help design, model and test emissions control systems that help our customers meet global requirements and achieve first-class standards."
CSCL, which is wholly owned by Corning Incorporated, is a state-of-the-art, high-tech emissions control substrate facility that first began shipping product in early 2001. In addition to manufacturing advanced substrates, CSCL also includes sales, marketing and engineering operations that provide world-class service for Corning customers in China and throughout Asia.
Corning is a leading supplier of advanced catalytic converter substrates and particulate filters, supplying the world's major manufacturers of gasoline and diesel engines and vehicles. The company invented an economical, high-performance cellular ceramic substrate in the early 1970s that is now the standard for catalytic converters worldwide. Corning also developed the cellular ceramic particulate filter to remove soot from diesel engine emissions in 1978.
About Corning Incorporated
Corning Incorporated ( http://www.corning.com ) is the world leader in specialty glass and ceramics. Drawing on more than 150 years of materials science and process engineering knowledge, Corning creates and makes keystone components that enable high-technology systems for consumer electronics, mobile emissions control, telecommunications and life sciences. Our products include glass substrates for LCD televisions, computer monitors and laptops; ceramic substrates and filters for mobile emission control systems; optical fiber, cable, hardware & equipment for telecommunications networks; optical biosensors for drug discovery; and other advanced optics and specialty glass solutions for a number of industries including semiconductor, aerospace, defense, astronomy and metrology.
