Corning Incorporated (NYSE: GLW) today announced plans to expand its fiber optic manufacturing facility in China. Corning made this decision based on the continuous growth of China's fiber market.
Martin J. Curran, senior vice president and general manager of Corning's Fiber Division, said: "The total annual demand for China's fiber optic market is expected to double in the next decade. The main driving force is the growing spread of high-speed, broadband optical communication networks. Demand. The expansion of the Shanghai plant will ensure that we have sufficient capacity to meet this market opportunity and maintain our leadership position in the Chinese fiber market."
Eric S. Musser, CEO of Corning Greater China, said: "In the past 20 years, as China's communications infrastructure has entered the era of fiber-optic networks, Corning has played an important role in the nationwide backbone network. The role and technology of advanced fiber optic products. Today we announced another important milestone plan to further strengthen Corning's commitment to producing the highest quality fiber in the region."
The expansion of Corning's Shanghai fiber optic production plant will begin immediately and is expected to be completed in 2009. Corning also manufactures fiber optics at Wilmington, North Carolina, the world's largest fiber optic production facility. As demand for the global fiber market continues to grow, Corning recently announced that it will resume some of its capacity at its fiber optic manufacturing facility in Concord, North Carolina.
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