CORNING INCORPORATED SELLS ADDITIONAL EQUITY INTEREST IN CORNING JAPAN K.K.
CORNING INCORPORATED SELLS ADDITIONAL EQUITY INTEREST IN CORNING JAPAN K.K. CORNING, N.Y., Feb. 3 /PRNewswire/ -- Corning Incorporated (NYSE: GLW) today announced the completion of a previously announced plan to sell to private Japanese investors additional equity interest in its subsidiary, Corning Japan K.K. With the completion of this and a previously announced transaction, the total equity interest sold is approximately 20 percent. Terms were not disclosed. Corning Japan President James M. Ramich said, "This additional capital will be invested in Japan to grow our emerging precision flat- glass substrate business." Precision flat-glass substrates are used in active matrix liquid- crystal displays. Such displays use thin-film-transistor or thin-film- diode technology for full-color video capabilities in products such as laptop computers and portable televisions. Corning Japan, the world leader for these glass substrates, is currently expanding its manufacturing capacity at its Operations Center, in the town of Osuka, Shizuoka Prefecture, Japan. -0- 2/3/92 /CONTACT: (Investor Contact) Stephen L. Albertalli, 607-974-8357, or Kathryn C. Littleton, 607-974-8206, both of Corning, or James M. Ramich of Corning Japan K.K. in Tokyo, 81-3-3586-1051/ (GLW) CO: Corning Incorporated ST: New York IN: SU: TNM
KD -- NY041 -- 6096 02/03/92 10:52 EST
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|Date:||Feb 3, 1992|
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