The new facility in Tamil Nadu will deliver high-quality cover-glass finishing to meet growing demand in the Indian market and beyond.
Chennai, June 25, 2024 – Today, Corning Incorporated (NYSE:GLW), one of the world’s leading innovators in materials science, and Optiemus Infracom Limited, India’s leading telecommunications and manufacturing enterprise, broke ground on the Bharat Innovative Glass Technologies (BIG Tech) facility. BIG Tech will be India’s first facility to produce high-quality, finished cover-glass parts for mobile consumer electronics, helping meet growing manufacturer demand in India.
“For more than 60 years, Corning has played a vital role in India’s technological development. This joint venture with Optiemus Infracom demonstrates our shared commitment to bringing life-changing innovations to the Indian market – and the world,” said David Velasquez, Vice President and General Manager, Corning® Gorilla® Glass. “By actively supporting our customers as they advance their supply chains, we’re giving more consumers in the region an opportunity to experience the renowned durability of Gorilla Glass.”
“Our collaboration with Corning exemplifies our shared commitment to driving technological advancements and delivering high-quality products to the market in alignment with the Indian government’s Make in India initiative,” said Ashok Gupta, Executive Chairman, Optiemus Infracom. “Establishing India’s first cover-glass finishing operation for mobile consumer electronics is a major milestone in our journey to meet the growing demand for high-quality, advanced cover glass.”
Manufacturing finished cover-glass components domestically is a significant evolution for the industry in India. The BIG Tech facility, located at the SIPCOT Pillaipakkam industrial park in the Kanchipuram District, Tamil Nadu, will help strengthen local supply chains and create substantial employment opportunities. The new facility further underscores Corning’s continued investment in India across multiple industries, specifically those aligned with emerging market trends in the region.
“Corning and Optiemus’s decision to establish a facility in Tamil Nadu is a testament to the robust infrastructure, skilled workforce, and business-friendly environment that the region offers,” said T.R.B. Rajaa, Minister for Industries, Investment Promotions and Commerce, Government of Tamil Nadu. “The new facility will create hundreds of job opportunities for our people and significantly contribute to our vision of making Tamil Nadu a global manufacturing powerhouse.”
“It is a proud moment for Tamil Nadu as we welcome Corning Incorporated and Optiemus Infracom to build a world-class facility here,” said MK Stalin, Chief Minister, Tamil Nadu. “Today’s ground-breaking for Bharat Innovative Glass Technologies (BIG Tech) not only marks a significant investment in our state’s industrial capabilities, but also reinforces Tamil Nadu’s position as a hub for innovation and technological advancement. We are committed to supporting such ventures that create job opportunities and drive sustainable economic growth for the state and India.”
Corning’s renowned Gorilla Glass cover material has been designed into more than eight billion devices by more than 45 major brands. Visit Corning’s Gorilla Glass page to learn more about Corning’s durable cover-glass portfolio.
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The statements contained in this release and related comments by management that are not historical facts or information and contain words such as “will,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “seek,” “see,” “would,” and “target” and similar expressions are forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include estimates and assumptions related to economic, competitive and legislative developments. Such statements relate to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements relate to, among other things, the Company’s future operating performance, the Company’s share of new and existing markets, the Company's revenue and earnings growth rates, the Company’s ability to innovate and commercialize new products, the Company's expected capital expenditure and the Company’s implementation of cost-reduction initiatives and measures to improve pricing, including the optimization of the Company’s manufacturing capacity.
Although the Company believes that these forward-looking statements are based upon reasonable assumptions regarding, among other things, current estimates and forecasts, general economic conditions, its knowledge of its business and key performance indicators that impact the Company, there can be no assurance that these forward-looking statements will prove to accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws.
Some of the risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements include, but are not limited to: global economic trends, competition and geopolitical risks, or an escalation of sanctions, tariffs or other trade tensions between the U.S. and China or other countries, and related impacts on our businesses' global supply chains and strategies; changes in macroeconomic and market conditions and market volatility, including developments and volatility arising from the COVID-19 pandemic, inflation, interest rates, the value of securities and other financial assets, precious metals, oil, natural gas and other commodity prices and exchange rates (particularly between the U.S. dollar and the Japanese yen, new Taiwan dollar, euro, Chinese yuan and South Korean won), the availability of government incentives, decreases or sudden increases of consumer demand, and the impact of such changes and volatility on our financial position and businesses; the duration and severity of the COVID-19 pandemic and its impact across our businesses on demand, personnel, operations, our global supply chains and stock price; possible disruption in commercial activities or our supply chain due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, international trade disputes or major health concerns; loss of intellectual property due to theft, cyber-attack, or disruption to our information technology infrastructure; ability to enforce patents and protect intellectual property and trade secrets; unanticipated disruption to Corning’s, our suppliers’ and manufacturers’ supply chain, equipment, facilities, IT systems or operations; product demand and industry capacity; competitive products and pricing; availability and costs of critical components, materials, equipment, natural resources and utilities; 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; the amount and timing of any future dividends; the effects of acquisitions, dispositions and other similar transactions; the effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; our ability to increase margins through implementation of operational changes, pricing actions and cost reduction measures; rate of technology change; adverse litigation; product and component performance issues; retention of key personnel; customer ability to maintain profitable operations and obtain financing to fund ongoing operations and manufacturing expansions and pay receivables when due; loss of significant customers; changes in tax laws, regulations and international tax standards; the impacts of audits by taxing authorities; the potential impact of legislation, government regulations, and other government action and investigations; and other risks detailed in Corning’s SEC filings.
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.
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About Corning Incorporated
Corning (www.corning.com) is one of the world’s leading innovators in materials science, with a 170-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 its customers capture new opportunities in dynamic industries. Today, Corning’s markets include optical communications, mobile consumer electronics, display, automotive, solar, semiconductors, and life sciences.
