Corning Celebrates its 1 Millionth Gasoline Particulate Filter

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Corning Celebrates its 1 Millionth Gasoline Particulate Filter

Corning Celebrates its 1 Millionth GPF

News Releases
Environmental Technologies
Corning Celebrates its 1 Millionth Gasoline Particulate Filter
Corning Celebrates its 1 Millionth Gasoline Particulate Filter
CORNING, N.Y. | Corning Incorporated | Junho 25, 2018
Company’s newest solution for automotive emissions control reaches production milestone as exhaust filtration technology is adopted on gasoline cars in Europe

Corning Incorporated (NYSE: GLW) announced today that its Environmental Technologies business reached a significant production milestone at its Kaiserslautern, Germany manufacturing facility – producing its 1 millionth Corning® DuraTrap® GC gasoline particulate filter (GPF) for automotive emissions control.

The facility launched an expansion effort in 2016 for production of these ceramic particulate filters, engineered specifically for gasoline engines, in anticipation of European auto market demand for this new emissions control technology. These gasoline particulate filters help automakers meet the new Euro 6d emissions standard and introduce some of their cleanest gasoline models yet. Corning’s production scale-up effort for DuraTrap® GC filters has been critical to ensure supply and support customers ahead of the regulatory implementation.

“Corning is proud to be partnering with most major automakers to equip their new European gasoline engine platforms with our DuraTrap® GC gasoline particulate filters,” said Klaus Wellstein, general manager, Corning GmbH. “Our Kaiserslautern facility has been managing expansion and production activities simultaneously to meet demand for these new products, preparing for the regulations alongside our customers.”

Leveraging particulate filters in gasoline systems is an important engineering advancement for clean-vehicle technology in Europe as gasoline vehicles grow in popularity. Advanced gasoline engines, including high-performance gasoline-direct-injection (GDI) engines, offer consumers better fuel economy without sacrificing engine performance. However, they produce a high number of fine particulates, such as PM2.5, that impact air quality and human health.

Euro 6d emissions standards, which will be fully phased in by September 2018, call for a significant reduction in fine particulate emissions from GDI engine vehicles under new real-driving emissions (RDE) testing. These standards necessitate the use of particulate filtration in the treatment of exhaust, a technology successfully utilized on diesel passenger vehicles in Europe since the early 2000s.

DuraTrap® GC filters are designed and optimized to help automakers effectively reduce fine particulate emissions from gasoline engines. These filters feature a new, cordierite-based material composition with an innovative engineered ceramic microstructure that delivers high filtration efficiency of fine particulates, while maintaining engine performance with low back pressure. A range of wash coat loading needs are also supported for additional catalytic activity to help address tighter gaseous emissions standards as well.

“Reaching this one million gasoline particulate filter milestone is important for Corning and for clean-air initiatives in Europe,” said Hal Nelson, vice president and general manager, Corning Environmental Technologies. “It marks the introduction of a next-generation emissions control solution with proven capability to help our customers meet new emissions standards and advance their gasoline systems to be cleaner and safer.”

China will be the next market to introduce particulate filtration of gasoline engine exhaust. New emissions regulations, known as China 6, will be implemented beginning in 2020, and will apply to all gasoline engine vehicles, not just GDI. Once China 6 regulations are fully implemented in 2023, most gasoline vehicles in China will potentially require a gasoline particulate filter. Corning’s growing collaboration with major automakers in China, driven by its advantaged DuraTrap® GC filter product portfolio, is increasing the company’s pace of investment, including a new manufacturing facility in Hefei, China, announced in 2017.

Once regulations are fully adopted in Europe and China, Corning expects to build a gasoline particulate filter business with an estimated $500 million in annual sales.

Corning is a leading supplier of advanced cellular ceramic substrates and ceramic particulate filters for the world's major manufacturers of gasoline and diesel vehicles. The company invented an economical, high-performance, cellular ceramic substrate in the early 1970s that is now the standard for catalytic converters worldwide. In 1978, Corning developed the cellular ceramic particulate filter to remove soot from diesel emissions. Corning continues to leverage its expertise in material science and manufacturing to develop market-leading emissions control solutions that help our customers meet new emissions standards and enable cleaner air worldwide.

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.

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 uses 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 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.

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