Corning Acquires Champion Products Inc.Business Editors, High Tech Writers HICKORY, N.C.--(BUSINESS WIRE)--Oct. 10, 2000 Corning announced today that it has acquired Champion Products Incorporated. A privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. founded in 1987, Champion manufactures enclosures, power pedestals, shelters, and a unique patented design for temperature controlled enclosures for telecommunications customers. Champion's technical capabilities include large-scale painting, large enclosure manufacturing, plastic rotational molding Rotational molding or moulding is a versatile process for creating many kinds of mostly hollow plastic Parts. The phrase is often shortened to rotomolding or rotomoulding. and thermal technology. Terms of the acquisition were not disclosed. Champion's four manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. in Southwestern Missouri and one facility in Pensacola, Florida
As a result of this acquisition, Corning Cable Systems will continue to broaden its outside plant hardware product line used in telecommunications and cable television networks. "By acquiring Champion, Corning Cable Systems has filled an important gap in its `tip-to-tip' access strategy," said Marty Curran, Corning Cable Systems Senior Vice President, Hardware and Equipment Operations. "As demand for bandwidth explodes, new technologies such as Digital Subscriber Line See DSL. (communications, protocol) Digital Subscriber Line - (DSL, or Digital Subscriber Loop, xDSL - see below) A family of digital telecommunications protocols designed to allow high speed data communication over the existing copper telephone lines between end-users and (DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary ) and Fiber-to-the-Curb (FTTC (Fiber To The Curb) The installation of optical fiber to within several hundred feet of the home or office. At that point, the optics are converted into electronics for delivery into the premises, typically using DSL. ) are being deployed, driving fiber networks and electronics closer to the home. "The broadband revolution in the access network to complete the `Last Mile' will fuel the demand for enclosure housings for passive and active optical and electrical components," Curran continued. - "Champion's comprehensive family of outside plant enclosures, coupled with innovative new technologies that provide low cost environmental and thermal protection for sensitive technologies, will complement Corning Cable Systems' existing family of optical and electrical interconnect products." Corning Cable Systems Acquires Champion Page 2 "Corning Cable Systems is uniquely positioned as a leading `tip-to-tip' supplier of access solutions to take advantage of emerging new loop technologies. Our access strategy of `securing the footprint' has served us well in becoming the market leader in DSL central office and subscriber solutions," Curran said. "Corning Cable Systems offers its customers the unique ability to design, engineer, and package DSL bandwidth splitter solutions for both ends of the loop network. The Champion products, manufacturing and engineering capabilities will give us the synergies to offer similar innovative network solutions for evolving fiber fed access systems and passive optical networks." The five Champion facilities include Champion and A-One located in Strafford, Mo.; American, located in Marshfield, Mo.; Pressroom located in Springfield, Mo.; and Mo-Ped, located in Pensacola, Fla. Corning Cable Systems plans to continue operations at the Missouri facilities. Future plans include moving the products manufactured at the Mo-Ped facility in Pensacola, Florida, to Corning Cable Systems' existing Reynosa, Mexico, facility. For additional information on Corning Cable Systems products or services, please contact a customer service representative at 1-800-743-2675, toll free in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. or (+1) 828-327-5000, international or visit our web site at www.corning.com/cablesystems. Corning Cable Systems, committed to providing superior customer-support services and unparalleled product quality, has more than 14,000 employees in 20 countries. With sales of more than $2 billion, Corning Cable Systems, wholly owned by Corning Incorporated Corning Incorporated NYSE: GLW is an American manufacturer of glass, ceramics and related materials, primarily for industrial and scientific applications. The company was known until 1989 as Corning Glass Works. (NYSE NYSE See: New York Stock Exchange : GLW GLW Glasgow Airport (UK) GLW Gross Laden Weight GLW Good Lady Wife (Australia) ), is one of the leading manufacturers of fiber optic and copper communications system solutions for voice, data, and video network applications worldwide. 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 and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. Corning revenues for 1999 were $4.7 billion. |
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