Corning Incorporated (NYSE: GLW) announced that it received a 2019 Volkswagen Group Award from Volkswagen AG (VOW) at the company’s 17th annual global supplier award ceremony in Leipzig, Germany, earlier this month.
Corning was recognized with the Global Performance Champion award, one of six Volkswagen Group Award categories, for its partnership in supplying particulate filters for high-performance emissions control.
“Corning is honored to be recognized for its commitment to Volkswagen Group,” said Steffen Schmid, Volkswagen commercial account director, Corning Environmental Technologies, who accepted the award. “We are proud to help Volkswagen solve technology challenges with innovative and high-quality products as well as reliable supply to support their ongoing transformation.”
Corning has been partnering with Volkswagen for almost 40 years. Most recently, Corning developed new products, such as Corning® DuraTrap® GC gasoline particulate filters and Corning® DuraTrap® AT HP diesel particulate filters, that support the Volkswagen Group. The products address tightening regulations in particulate emissions and are being leveraged in emissions control systems across many car models in Europe and Asia.
From its global network of more than 40,000 suppliers, Volkswagen awarded eight companies across the six award categories at this year’s ceremony. Awards were presented by members of the Volkswagen Group’s Board of Management, and the Volkswagen and Volkswagen Components brands.
“We are dedicating the [Volkswagen] Group Award to celebrate and acknowledge [supplier] achievements and commitment,” said Dr. Stefan Sommer, group board member for Components and Procurement at the ceremony. “We would like to thank you and your motivated employees for the successful cooperation.”
Corning has more than 100 years of experience in the automotive industry, helping drive the trend toward cleaner, safer, and more connected vehicles. Building on more than four decades of leadership in clean-air technologies, Corning continually innovates its advanced cellular ceramic substrates and ceramic particulate filters for gasoline and diesel emissions control, helping customers meet new emissions standards and enable cleaner air worldwide. Corning is also enhancing vehicle exteriors and interiors with innovations in automotive glass technology that enable lightweight, damage-resistant windows and displays with the sophistication consumers have come to expect from smartphones.
Caution Concerning Forward-Looking 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 effects of acquisitions, dispositions and other similar transactions by the Company, the effect of global business, financial, economic and political conditions; tariffs and import duties; currency fluctuations between the U.S. dollar and other currencies, primarily the Japanese yen, New Taiwan dollar, euro, Chinese yuan, and South Korean won; product demand and industry capacity; competitive products and pricing; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; possible disruption in commercial activities due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, or major health concerns; unanticipated disruption to equipment, facilities, IT systems or operations; effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; rate of technology change; ability to enforce patents and protect intellectual property and trade secrets; adverse litigation; product and components performance issues; retention of key personnel; customer ability, most notably in the Display Technologies segment, to maintain profitable operations and obtain financing to fund their ongoing operations and manufacturing expansions and pay their receivables when due; loss of significant customers; changes in tax laws and regulations including the Tax Cuts and Jobs Act of 2017; and the potential impact of legislation, government regulations, and other government action and investigations.
For a complete listing of risks and other factors, please reference the risk factors and forward-looking statements described in our annual reports on Form 10-K and quarterly reports on Form 10-Q. 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.
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About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science, with a more than 165-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.