The facility is one of the largest in the European Union; part of Corning’s globally focused investment in fiber and cable manufacturing
CORNING, N.Y., Sept. 08, 2022 (GLOBE NEWSWIRE) -- Corning Incorporated (NYSE: GLW) today formally opened a new optical fiber manufacturing facility in Mszczonów, Poland, to meet growing demand for high-speed connectivity in the European Union and surrounding regions.
The facility, one of the largest optical fiber plants in the European Union, is Corning’s latest in a series of global investments in fiber and cable manufacturing totaling more than $500 million since 2020, supported by growing demand and strong customer commitments.
Network operators in Europe are investing in broadband expansion to bring high-speed connections to more people in more communities. These initiatives, along with investments in 5G and cloud data centers, signal the early stages of a large, multi-year wave of growth for networks built on fiber, with virtually unlimited bandwidth. Corning, as the inventor of low-loss optical fiber and as the world leader in passive optical communications, is uniquely positioned to support these network builds.
The new facility adds approximately 250 employees to the company’s workforce of more than 3,000 in Poland and builds on Corning’s successful 20-year history of manufacturing in the region. It provides Corning with advantaged access to talent through the skilled workforce and technical training available in the greater Warsaw area. Corning manufactures optical cable and connectivity components at its campus in Stryków.
“We congratulate Corning on the opening of this advanced manufacturing facility for the fiber that forms the backbone of the internet,” said Józef Kurek, mayor of Mszczonów. “High-speed connections will come to more people and more communities in Europe thanks to the fiber that Corning will make here in Mszczonów. We are pleased that Corning turned again to this region's talented workforce to bring its innovations to life.”
Corning is also expanding manufacturing capacity in the United States to meet growing bandwidth demand in North America. In August the company announced it will open a cable manufacturing plant near Phoenix, Arizona. A cable manufacturing expansion announced last year in North Carolina is currently ramping up. By adding fiber manufacturing capacity in Poland, Corning will be able to increase local supply and manufacturing to serve global markets.
“Corning is expanding its fiber manufacturing operations in Europe as our customers accelerate investments in future-ready networks,” said Corning Chairman and Chief Executive Officer Wendell P. Weeks. “From broadband to 5G to cloud computing, tomorrow’s networks all depend on optical fiber. This facility will ensure we can continue to efficiently serve our customers in Europe and beyond. We appreciate the support of state and local officials, and the dedication of our skilled workforce.”
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The statements contained in this release 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 estimates are subject to change and uncertainty which are, in many instances, beyond our control. There can be no assurance that future developments will be in accordance with management’s expectations. Actual results could differ materially from those expected by us, depending on the outcome of various factors. We do not undertake to update forward-looking statements.
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, actual results could differ materially. The Company does not undertake to update forward-looking statements. 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: the duration and severity of the COVID-19 pandemic, and its impact across our businesses on demand, operations and our global supply chains; the effects of acquisitions, dispositions and other similar transactions; 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; loss of intellectual property due to theft, cyber-attack, or disruption to our information technology infrastructure; unanticipated disruption to our supply chain, 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, 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 and regulations; 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.
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 (https://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.
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 our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display, automotive, and life sciences.
Media Relations Contact: Gabrielle R. Bailey (607) 974-6394 baileygr@corning.com
John Arwood (828) 320-3249 arwoodjm@corning.com Investor Relations Contact: Ann H.S. Nicholson (607) 974-6716 nicholsoas@corning.com
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The new facility will augment Corning's (GLW) optical cable and connectivity components production in Poland while strengthening its two-decade-old manufacturing operations in the country.
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