Corning Completes Sale of Consumer Europe Business to Newell Co.CORNING, N.Y.--(BUSINESS WIRE)--Nov. 30, 1994--Corning Incorporated (NYSE NYSE See: New York Stock Exchange :GLW GLW Glasgow Airport (UK) GLW Gross Laden Weight GLW Good Lady Wife (Australia) ) today said it has completed the previously announced sale of its European consumer products business to Newell Co. (NYSE:NWL NWL Newell Rubbermaid, Inc. (stock symbol) NWL Northwest League (Boise, Idaho; baseball) NWL Northwoods League NWL North West London NWL Neverending White Lights (band) ) for $86 million. The sale includes Corning s consumer products manufacturing facilities in England, France and Germany. The sale also includes the trademark rights and product lines for Corning's Pyrex, Pyroflam and Visions brands and Corning s consumer products distribution network in Europe, the Middle East and Africa Europe, the Middle East and Africa, usually abbreviated to EMEA, is a regional designation used for government, marketing and business purposes. It is particularly common amongst North American based companies, who often divide their international operations into the . Additionally, Newell becomes the distributor in Europe, the Middle East and Africa for Corning's U.S.-manufactured cookware and dinnerware brands, including Revere Revere, city (1990 pop. 42,786), Suffolk co., E Mass., a residential suburb of Boston, on Massachusetts Bay; settled c.1630, set off from Chelsea and named for Paul Revere 1871, inc. as a city 1914. Ware and Corelle. Corning Incorporated is a Fortune 200 company which competes globally in four business segments: specialty materials, communications, laboratory services, and consumer products. Its 1993 sales totaled $4 billion. Corning entered the consumer housewares house·wares pl.n. Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen. market in 1915 when it introduced heat-resistant borosilicate glass bakeware under the Pyrex brand. Today, Corning Consumer Products company markets throughout the world such well-known brands as Corning Ware, Visions and Revere Ware cookware, and Corelle dinnerware. CONTACT: Corning Inc., Corning, N.Y.
Kathryn C. Littleton, 607/974-8206
Corning Investor Relations Contact:
Richard B. Klein, 607/974-8313
Corning Europe Contact:
Helen Magne, France 33-1-64-69-75-56
or
Newell Co.
Ross A. Porter, 815/969-6113
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