3M Completes its Acquisition of Corning Precision Lens Inc.Business Editors ST. PAUL St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn.--(BUSINESS WIRE)--Dec. 13, 2002 3M announced today that it has completed the acquisition of Corning Precision Lens Inc., the largest worldwide manufacturer of lens systems for rear projection televisions. The Cincinnati-based company becomes a subsidiary of 3M Optical Systems Division operating under the name 3M Precision Optics Inc. Lens systems for large-screen, rear-projection televisions are a great complement to 3M's strong optical film capabilities, which are well-suited to the emerging consumer LCD (Liquid Crystal Display) A display technology that uses rod-shaped molecules (liquid crystals) that flow like liquid and bend light. Unenergized, the crystals direct light through two polarizing filters, allowing a natural background color to show. television segment. Adding this lens technology for rear projection televisions to 3M's full spectrum of display technologies will accelerate its growth in current and next-generation consumer television applications. 3M's expertise in display technology is reflected in its line of Vikuiti brand light management products that include display enhancement films for electronic displays such as LCD televisions, mobile phones, desktop monitors and notebook computers A laptop computer that weighs in a range from five to seven pounds. The term originated when laptops were routinely more than 10 pounds, and those that became lighter were placed in a special "notebook" category. In practice, notebook computer and laptop computer are synonymous. . 3M also supplies touch screens and systems, high-performance projection screens and precision optical components for a wide range of display applications. About 3M 3M is a $16 billion diversified diversified (di·verˑ·s technology company with leading positions in consumer and office; display and graphics; electronics and telecommunications; health care; industrial; safety, security and protection services; transportation and other businesses. Headquartered in St. Paul, Minnesota, the company has operations in more than 60 countries and serves customers in nearly 200 countries. 3M, which marks its 100th anniversary this year, is one of the 30 stocks that make up the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. and also is a component of the Standard & Poor's 500 Index. Forward-Looking and Cautionary Statements The statements contained in this press release that are not purely historical are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , including statements regarding 3M's expectations, beliefs, hopes, intentions or strategies regarding the future. All forward-looking statements included in this press release are based upon information available to 3M as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" , and 3M assumes no obligation to update any such forward-looking statement. Vikuiti is a trademark of 3M. |
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