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Encyclopedia > Corning Incorporated
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Corning Incorporated NYSE: GLW is an American manufacturer of glass, ceramics and related materials, primarily for industrial and scientific applications. The company was known until 1989 as Corning Glass Works. New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE), also nicknamed the Big Board, is the largest stock exchange in the world (by dollar volume) and second largest by number of listings. ... This article refers to the material. ...


The company's headquarters is located in the city of Corning, New York. Corning, New York is the name of two places in Steuben County, New York, although it most frequently means the City of Corning. ...


In the fall of 1970, the company announced that its researchers had succeeded in making an optical fiber useful for long distance communication, having an optical attenuation of only 17 dB per kilometer, by doping silica glass with titanium. That invention resulted in Corning Incorporated becoming the world's largest manufacturer of optical fiber by the 1990s. Optical fibers An optical fiber (or fibre) is a transparent thin fiber, usually made of glass or plastic, for transmitting light. ... Attenuation is the decrease of the amount, force, magnitude, or value of something. ... General Name, Symbol, Number titanium, Ti, 22 Chemical series transition metals Group, Period, Block 4, 4, d Appearance silvery metallic Atomic mass 47. ...


Today (2004), Corning Incorporated is the world's dominant manufacturer of glass for liquid crystal displays in notebook and desktop computers and LCD televisions. The company continues to produce optical fiber and cable for communications, but at a reduced volume from the peak years of 1998-2000. It is also a major manufacturer of ceramic pollution control devices for catalytic converters in cars and light trucks that use gasoline engines. The company is also making a major investment in production of ceramic pollution control products for diesel engines as a result of tighter emission standards for those engines both in the U.S. and abroad.


Other notable products manufactured by Corning Incorporated include mirror blanks for some of the world's largest telescopes, windows for all U.S. Space Shuttles and Steuben art glass. From 1982 to 1996, Corning owned Corning Clinical Laboratories; Corning did a spin-off of that business to their stockholders at the time as Quest Diagnostics. A spin-off (or spinoff) is a new organization or entity formed by a split from a larger one such as a new company formed from a university research group. ... Quest Diagnostics Incorporated (NYSE: DGX) is one of the leading providers of clinical laboratory services in the United States. ...


Corning Incorporated employs about 25,000 people worldwide and has annual revenues (2004) of $3.85 billion. It was for many years listed among Fortune magazine's 500 largest industrial companies, but lost that distinction when its revenues slumped as a result of the telecommunications industry collapse that began in 2001.


It traces its origins to a glass company established in Massachusetts in 1851 by a member of the founding Houghton family. In 1918, it acquired Steuben Glass Works. The Houghton Family are a prominate Upstate New York business family. ... 1918 (MCMXVIII) was a common year starting on Tuesday of the Gregorian calendar (see link for calendar) or a common year starting on Wednesday of the Julian calendar. ...


Although the company is publicly owned, James R. Houghton, a descendant of the founder, serves as chairman of the board of directors (2005). Wendell P. Weeks is president and chief executive officer (2005).


Other Corning notables over its 150 year history include: invention of a process for rapid and inexpensive production of light bulbs; early major manufacturer of glass panels and funnels for CRT television tubes; invention and production of Vycor(TM)(high temperature glass with high thermal shock resistance), and invention and production of Corelle(TM) (durable glass dinnerware, Pyrex(TM) and Pyroceram(TM) (glass-ceramic cookware).


External links

  • Corporate website
  • The Trials of Amory Houghton Jr., article in Forbes Magazine, September 1977, describing the company's mid-1970s crisis.
  • 2003 annual report
  • 2004 annual report
  • Latest quarterly financial report.

 
 

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