Corning to Acquire NoTox; Manufacturer of Silicon Carbide Diesel Filters; Transaction to Accelerate Development of Advanced Filters for Diesel Automobiles.Business & Automotive Editors CORNING, N.Y.--(BUSINESS WIRE)--Nov. 30, 2000 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) ), a world-leading supplier of emission-control components, announced today that it has agreed to acquire NoTox A/S from Silentor NoTox A/S for US $8.5 million in cash. Based in Copenhagen, Denmark, NoTox develops and produces diesel particulate filters using silicon carbide silicon carbide, chemical compound, SiC, that forms extremely hard, dark, iridescent crystals that are insoluble in water and other common solvents. Widely used as an abrasive, it is marketed under such familiar trade names as Carborundum and Crystolon. (SiC) materials. The seller is Silentor NoTox, a Danish company providing a range of muffler muffler, in automobiles, device designed to reduce the noise from the exhaust of an internal-combustion engine. When the exhaust gases from an internal-combustion engine are released directly into the atmosphere, they create a loud noise, caused by the passage of the technologies to the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. . The acquisition accelerates Corning's commitment to supply a comprehensive range of advanced diesel particulate filters to the automobile, truck and bus markets worldwide. Industry analysts anticipate that the market for diesel particulate filters could exceed US $300 million by 2005. The purchase gives Corning access to NoTox's innovative silicon carbide filter design and production capability. Silicon carbide filters can be used to reduce particulate emissions (soot) from a wide range of diesel engines. They have shown particular promise for use in light-duty diesel vehicle applications, such as automobiles, where filters must withstand very high in-use temperatures. "Our acquisition of NoTox reinforces Corning's commitment to being a leading supplier of advanced filters and substrates for diesel emissions control Emissions control may refer to:
Corning Incorporated is a leading supplier of advanced catalytic converter catalytic converter: see internal-combustion engine. catalytic converter In automobiles, a component of emission control systems used to reduce the discharge of noxious gases from the internal-combustion engine. substrates and particulate filters to the world's major vehicle manufacturers. Corning invented the honeycomb-like advanced ceramic substrate used at the heart of today's catalytic converter almost three decades ago. Leveraging its advanced ceramic materials and process technologies, the company produced the first cellular ceramic filter to help reduce emissions from diesel vehicles in the mid-1980s. 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's revenues in 1999 were $4.7 billion. More information on Corning filters and substrates for emission control systems is available at www.environmental.corning.com. |
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