Cobra Vision, a NexGen Vision Subsidiary, and Corning Sign Long-Term Commercial Agreement For Corning SunSensors Plastic Ophthalmic Lens Material.Business Editors CUMMING, Ga.--(BUSINESS WIRE)--Oct. 1, 2002 Cobra Vision, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of NexGen Vision (OTC-BB: NXGV) and Corning Incorporated (NYSE NYSE See: New York Stock Exchange :GLW GLW Glasgow Airport (UK) GLW Gross Laden Weight GLW Good Lady Wife (Australia) ), today announced they have signed a three year contract to supply Corning(R) SunSensors(R) plastic sun-sensitive lens material for use in NexGen Vision's cast-to-prescription system. The agreement will provide the ophthalmic industry with the opportunity to cast patented Corning photochromic lens pho·to·chro·mic lens n. A light-sensitive eyeglass lens that automatically darkens in sunlight and clears in reduced light. material to individual prescriptions. NexGen's prescription lens casting system is designed for high-volume production and features no-gasket lens processing and print coating technology. Gary Lafferty, NexGen's chairman said, "The addition of the Corning SunSensors plastic sun-sensitive lens material to the NexGen Casting System significantly expands the opportunity for ophthalmic laboratories and retail chains to apply our casting technology to a much larger segment of the ophthalmic lens market and provides a compelling reason to add casting technology to their manufacturing capabilities." Vivian Gernand, vice president and general manager, Corning Ophthalmic, added "We are extremely pleased to work with NexGen to offer Corning SunSensors plastic sun-sensitive lens technology in the cast-to-prescription segment of the market." NexGen Vision is a leading provider of products to the ophthalmic lens industry. NexGen has two wholly owned subsidiaries, Cobra Vision and FB Optical. Cobra Vision, based in Atlanta, GA, recently launched the NexGen Automated Lens Casting System that allows ophthalmic laboratories and retail chains to cast finished single vision, flat top bifocal bifocal /bi·fo·cal/ (bi-fo´-) (bi´fo-k'l) 1. having two foci. 2. containing one part for near vision and another part for distant vision, as in a bifocal lens. , and progressive addition lenses to prescription. Cobra Vision is the exclusive North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. distributor of GIA Noun 1. GIA - a terrorist organization of Islamic extremists whose violent activities began in 1992; aims to overthrow the secular Algerian regime and replace it with an Islamic state; "the GIA has embarked on a terrorist campaign of civilian massacres" Crystal Polycarbonate A category of plastic materials used to make a myriad of products, including CDs and CD-ROMs. and Buchmann Glass lenses. FB Optical is an ophthalmic equipment refurbishing company located in St. Stephen, MN. FB purchases and rebuilds used equipment for resale and distribution in North America and emerging markets. Established in 1851, Corning Incorporated (www.corning.com) creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television, information technology and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, ophthalmic, semiconductor and environmental markets. Corning's revenues in 2001 were $6.3 billion. Additional information about Corning's ophthalmic products is available at www.corning.com/ophthalmic. |
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