Corning Announces Agreement with Saudi Telecom Company

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Corning Announces Agreement with Saudi Telecom Company

Corning Enter Agreement with Saudi Telecom Company

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Corporate Communications
Corning Announces Agreement with Saudi Telecom Company
Corning Announces Agreement with Saudi Telecom Company
CORNING, N.Y. | Corning Incorporated | January 29, 2018
Optical Solutions will support the National Transformation Program

Corning Incorporated (NYSE: GLW) today announced that it will supply its optical solutions to Saudi Telecom Company (STC), an enabler of the National Transformation Program, for high-speed connectivity and fiber-to-the-home (FTTH) applications.

The arrangement builds on the existing strategic relationship between STC and Corning, which has already supplied more than 1.5 million kilometers of optical fiber in STC’s KSA network.

“STC enjoys a strong reputation as an innovator in the Middle East. They have established themselves as a leader in advanced broadband technologies such as FTTH,” said Clark Kinlin, executive vice president, Corning Optical Communications. “Corning shares STC’s commitment and vision for innovation, and together, we will leverage our engineering capabilities, experience, and solutions to build the KSA national network to the highest possible standard. We are honored to make the investment necessary to extend our partnership with STC.”

As part of this strategic relationship, the two companies will also develop a program to provide advanced technical training to STC fiber engineers and technicians.

Eng. Nasser Sulaiman Al Nasser, STC chief operations officer, said, “STC is building the largest fiber network in the history of the kingdom. I am delighted to see us strike such an initiative with Corning, which will help meet STC’s strategic goals for digital services, and will align with the objectives of the National Transformation Program (NTP 2020) and Vision 2030. Corning is a pioneer in fiber optics solutions and FTTH, and we are excited to build such an extended strategic relationship with one of the most progressive and internationally renowned companies.”

Corning invented the first low-loss optical fiber in 1970, which helped in the launch of the new age of optical communications and ultimately transformed the way the world creates, shares, and consumes data. Since that time, Corning Optical Communications has deployed more than 1 billion kilometers of optical fiber for networks across the globe.

Forward-Looking and Cautionary Statements

This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are detailed in Corning’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.

Web Disclosure

In accordance with guidance provided by the SEC regarding the use of company websites and social media channels to disclose material information, Corning Incorporated (“Corning”) wishes to notify investors, media, and other interested parties that it intends to use its website (http://www.corning.com/worldwide/en/about-us/news-events.html) to publish important information about the company, including information that may be deemed material to investors, or supplemental to information contained in this or other press releases. The list of websites and social media channels that the company uses may be updated on Corning’s media and website from time to time. Corning encourages investors, media, and other interested parties to review the information Corning may publish through its website and social media channels as described above, in addition to the company’s SEC filings, press releases, conference calls, and webcasts.

About Corning Incorporated

Corning (www.corning.com) is one of the world's leading innovators in materials science, with a 166-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries.

Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display technology, automotive, and life sciences vessels. Corning's industry-leading products include damage-resistant cover glass for mobile devices; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for state-of-the-art communications networks; trusted products to accelerate drug discovery and delivery; and clean-air technologies for cars and trucks.