Corning Incorporated (NYSE:GLW) today announced that it is adding manufacturing capacity in Strykow, Poland, driven by strong demand for its fiber optic products and solutions in Europe, the Middle East and Africa.
To accommodate the expansion, a second manufacturing facility is under construction adjacent to the existing Corning Optical Communications operation in Strykow. The new plant is expected to open in 2018.
The expanded Strykow campus will be Corning’s largest manufacturing site for optical communications solutions in Europe, the Middle East and Africa. The expansion flows from Corning's strategy of locating its facilities close to its customers to facilitate supply for their immediate needs and provide Corning with advantaged access to global markets.
“We have decided to expand our business in Poland because we are very satisfied with the local workforce who possess a high level of commitment and professionalism. It is thanks to our outstanding employees that we can develop and deliver products at the highest level,” said Mariusz Bielawski, Strykow project manager for Corning Optical Communications.
“This expansion addresses growing demand in Europe, the Middle East and Africa for Corning’s optical communications innovations, which are transforming the way the world connects. In particular, the expansion addresses demand from data centers and fiber-to-the-home providers,” Bielawski said.
Corning’s optical communications manufacturing operations in Poland date back to 2001, when the company opened a plant in Lodz. After five years, due to rapid growth, the facility moved to its current site at SEGRO Logistics Park Strykow. Magdalena Szulc, SEGRO director for Central Europe, said: “Corning’s success and growth show that Strykow is a great place for business development.”
Under its Strategy and Capital Allocation Framework, Corning plans to invest to expand capacity, innovate, and increase market access in Optical Communications and other businesses. This investment is part of the company’s plan to maintain its market-leading position as the world’s largest fiber producer with the lowest-cost manufacturing platform, and to achieve its goal of $5 billion in Optical Communications annual sales by 2020.
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.
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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, ceramics 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.