Corning Proposes Closing Its Deeside Optical Fiber Manufacturing Facility; North Wales plant will run limited operations through the end of the year.Business Editors CORNING, N.Y.--(BUSINESS WIRE)--Oct. 4, 2001 In response to the continued weakening in demand for optical fiber in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and in Europe, 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) ) today announced that it is proposing to close its optical fiber manufacturing operation in Deeside, North Wales. The company plans to continue low level operations at the facility through the end of 2001. Approximately 436 employees will be affected. "It is regrettable that we must consider taking this action," said Alan Eusden, senior vice president and general manager, Corning Optical Fiber, "but this is the most viable course given the difficult market environment we are facing. Corning will utilize a consultative process with employee representatives and will act with responsibility and compassion." Corning acquired the 50 percent of the Deeside operations, then known as Optical Fibres, that it did not already own from BICC BICC Bearer Independent Call Control BICC Business Intelligence Competency Center (SAS Consulting) BICC Beijing International Convention Center BICC Biomedical Information Communication Center , plc in November of 1998. The plant is one of five Corning optical fiber manufacturing plants worldwide. The other operations are located in Wilmington and Concord, North Carolina Concord (kän-kord) is a city in the U.S. state of North Carolina. As of the 2000 census, the city had a total population of 55,977. It is the county seat of Cabarrus CountyGR6 and a winner of the All-America City Award in 2004. , Neustadt Bei Coburg, Germany and Noble Park, Victoria Noble Park is a suburb of Melbourne, Victoria, Australia approximately 30 km south-east of the central business district. It has a mixture of residential, commercial and industrial zones and is home to a highly multicultural population, with residents who have immigrated from , Australia. 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, semiconductor and environmental markets. Corning revenues for 2000 were $7.1 billion. --30--jtp/ny* mem
CONTACT: Corning U.S. Contact:
Paul A. Rogoski
607/974-8832
rogoskipa@corning.com
or
Corning U.K. Contact:
John A. O'Hare
Tel: 011 44 (0) 20 7659 6945
Cell: 011 44 (0) 7733 318207
ohareja@corning.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: MANUFACTURING TELECOMMUNICATIONS
SOURCE: Corning Incorporated
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