Corning Inc.
This article needs additional citations for verification. (February 2023) |
Life sciences products | |
Revenue | US$14.19 billion (2022) |
---|---|
US$1.44 billion (2022) | |
US$1.32 billion (2022) | |
Total assets | US$29.50 billion (2022) |
Total equity | US$12.01 billion (2022) |
Number of employees | 57,500 (December 2022) |
Divisions |
|
Website | corning |
Footnotes / references [1] |
Corning Incorporated is an American multinational technology company that specializes in specialty glass, ceramics, and related materials and technologies including advanced optics, primarily for industrial and scientific applications. The company was named Corning Glass Works until 1989.[2] Corning divested its consumer product lines (including CorningWare and Visions Pyroceram-based cookware, Corelle Vitrelle tableware, and Pyrex glass bakeware) in 1998 by selling the Corning Consumer Products Company subsidiary (later Corelle Brands, now known as Instant Brands) to Borden.
As of 2014[update], Corning had five major business sectors: display technologies, environmental technologies, life sciences, optical communications, and specialty materials. Corning is involved in two
History
Corning Glass Works was founded in 1851 by Amory
Corning continues to maintain its world headquarters at Corning, N.Y. The firm also established one of the first industrial research labs there in 1908.[
The
In 1935, Corning formed a partnership with bottle maker
The company had a history of science-based innovations following World War II and the strategy by management was research and "disruptive" and "on demand" product innovation.[12]
In 1962, Corning developed Chemcor, a new toughened automobile
In the fall of 1970, the company announced that researchers Robert D. Maurer, Donald Keck, Peter C. Schultz, and Frank Zimar had demonstrated an
In 1977, considerable attention was given to Corning's Z Glass project. Z Glass was a product used in television picture tubes. Due to a number of factors, the exact nature of which are subject to dispute, this project was considered a steep loss in profit and productivity. The following year the project made a partial recovery. This incident has been cited as a case study by the Harvard School of Business.[16]
Company profits soared in the late 1990s during the dot-com boom, and Corning expanded its fiber operations significantly through the acquisition of telecommunications company Oak Industries[17] and building several new plants. The company also entered the photonics market, investing heavily with the intent of becoming the leading provider of complete fiber-optic systems. Failure to succeed in photonics and the collapse in 2000 of the dot-com market had a major impact on the company, and Corning stock plummeted to $1 per share. However, as of 2007[update] the company had posted five straight years of improving financial performance.
Technologies
This section needs additional citations for verification. (October 2011) |
The turning point for Corning came when Apple approached it to develop a robust display screen for its upcoming
The company continues to produce optical fiber and cable for the communications industry at its Wilmington and Concord plants in North Carolina. It is also a major manufacturer of ceramic emission control devices for catalytic converters in cars and light trucks that use gasoline engines. The company is also investing in the production of ceramic emission control products for diesel engines as a result of tighter emission standards for those engines both in the U.S. and abroad.
In 2007, Corning introduced an optic fiber,
Gorilla Glass, an outgrowth of the 1960s Chemcor project, is a high-strength alkali-
On October 25, 2011, Corning unveiled
Corning invests about 10% of revenue in
Corning Incorporated manufactures a high-purity fused silica employed in microlithography systems, a low expansion glass utilized in the construction of reflective mirror blanks, windows for U.S.
Corning is engaged in research and development on green
In September 2019, Apple announced that it would invest $250 million in Corning, in an effort to develop and manufacture the glass needed for many of its products, including the iPhone, Apple Watch, and iPad. Though not confirmed by either company, the investment could be used to develop new products in the future. Apple had already invested $200 million in Corning in 2017.[25]
Other activities
Corning employs roughly 61,200 people worldwide and had sales of $14.08 billion in 2021.
Although the company has long been publicly owned,
Over its 160-year history Corning invented a process for rapid and inexpensive production of
In July 2008, Corning announced the sale of
In February 2011, Corning acquired MobileAccess Networks, an Israeli company that develops Distributed antenna systems, which are often used by universities, stadiums and airports to ensure seamless wireless coverage throughout a facility. MobileAccess Networks became part of Corning's telecommunications business unit.[30] In July 2017, Corning acquired SpiderCloud Wireless.[31] In December 2017, Corning acquired all of 3M Communication Market Division, in a cash transaction approximately $900 million. Acquisition closed during 2018; 3M Communication Market Division became part of Corning Optical Communications business unit.[32]
Board of directors
- Donald W. Blair: retired executive vice president and chief financial officer, NIKE, Inc.
- Leslie A. Brun: chairman and chief executive officer, Sarr Group
- Richard T. Clark: retired chairman, president and chief executive officer, Merck & Co., Inc.
- Pamela J. Craig: retired chief financial officer, Accenture plc.
- Robert F. Cummings, Jr.: retired vice chairman of investment banking, JPMorgan Chase & Co.
- Roger W. Ferguson Jr.: Steven A. Tananbaum Distinguished Fellow for International Economics, Council on Foreign Relations
- Thomas D. French: senior partner emeritus, McKinsey & Company, Inc.
- Deborah A. Henretta: retired group president of global e-business, Procter & Gamble Company
- Daniel P. Huttenlocher: dean, MIT
- Kurt M. Landgraf: retired president and chief executive officer, Educational Testing Service
- Kevin Martin: vice president, US public policy, Meta Platforms, Inc.
- Deborah D. Rieman: retired executive chairman, MetaMarkets Group
- Hansel E. Tookes II: retired chairman and chief executive officer, Raytheon Aircraft Company
- Wendell P. Weeks: chairman, chief executive officer, and president, Corning Incorporated
- Mark S. Wrighton: professor of chemistry and chancellor emeritas, Washington University in St. Louis
See also
- Corelle Brands LLC, the later name adopted by the Corning Consumer Products Company subsidiary that was sold to Borden in 1998, before it merged with Instant Brands in 2019.
- Corning Museum of Glass
- City of Corning, NY
- Houghton family
- Macor, a machineable glass-ceramic developed by Corning
- flat panel displays
References
- ^ "Form 10-K Annual Report for the Fiscal Year Ended December 31, 2022 Corning, Inc". SEC.gov. U.S. Securities and Exchange Commission. February 13, 2023.
- ^ "Corning, Form S-3/A, Filing Date Jan 18, 1994". secdatabase.com. Archived from the original on May 24, 2013. Retrieved March 28, 2013.
- ^ "Corning, Form 8-K, Current Report, Filing Date Jan 13, 1997". secdatabase.com. Archived from the original on May 24, 2013. Retrieved March 28, 2013.
- ^ Aamoth, Doug (January 11, 2013). "A Story About Steve Jobs, Steel Balls and Gorilla Glass (You, with the Cracked Phone: Read This)". Time. Archived from the original on April 24, 2017 – via techland.time.com.
- ^ "One of the world's oldest products faces the digital future". The Economist. October 12, 2017. Archived from the original on October 14, 2017.
- ^ "1986 Laureates- National Medal of Technology and Innovation". USPTO.gov. Archived from the original on October 6, 2016. Retrieved September 24, 2016.
- ^ "1994 Laureates- National Medal of Technology and Innovation". USPTO.gov. Archived from the original on October 6, 2016. Retrieved September 24, 2016.
- ^ "2000 Laureates- National Medal of Technology and Innovation". USPTO.gov. Archived from the original on December 24, 2016. Retrieved September 24, 2016.
- ^ "2003 Laureates- National Medal of Technology and Innovation". USPTO.gov. Archived from the original on October 6, 2016. Retrieved September 24, 2016.
- ^ "Corning Chairman Emphasizes Sustainable Performance and "Unwavering" Commitment to Innovation". Corning.com. April 24, 2008. Archived from the original on June 12, 2011. Retrieved August 5, 2010.
- ^ "Caltech Astronomy: History - 1908–1949". Caltech. n.d. Archived from the original on May 11, 2008. Retrieved March 17, 2008.
- ^ ISBN 9780804758925. Retrieved September 7, 2011.
- ^ Flint, Jerry M. (November 27, 1968). "New Windshield for Cars Called Safer in Crashes". The New York Times. p. 53. Archived from the original on November 3, 2012. Retrieved September 7, 2011.
- ^ ISBN 9780195140958. Retrieved September 7, 2011.
Javelin windshield.
- ^ Jeff Hecht. "Fiber Optic History | Jeff Hecht". www.jeffhecht.com. Archived from the original on November 20, 2015.
- ^ "Laminated mirror glass | Bear Glass Inc". Archived from the original on February 25, 2020. Retrieved February 25, 2020.
- ^ Aeppel, Timothy (November 15, 1999). "Corning Buys Oak Industries, a Maker Of Laser Gear, for $1.8 Billion in Stock". The Wall Street Journal. Dow Jones & Company: A14. Archived from the original on April 10, 2020.
- ^ "Large Generation Glass". Corning Incorporated. Archived from the original on August 23, 2011. Retrieved September 7, 2011.
- ^ "Gorilla Glass Overview". Corning.com. December 31, 2007. Archived from the original on November 20, 2010. Retrieved November 26, 2010.
- ^ Isaacson, Walter (2011). Steve Jobs. New York: Simon & Schuster. Kindle Locations 8137-8141.
- ^ "Corning, Form 10-K, Annual Report, Filing Date Feb 13, 2012" (PDF). secdatabase.com. Archived (PDF) from the original on May 24, 2013. Retrieved March 28, 2013.
- ^ "Corning Unveils Corning Lotus Glass for High-Performance Displays" (Press release). Corning. October 25, 2011. Archived from the original on October 28, 2011. Retrieved October 27, 2011.
- ^ http://findarticles.com/p/articles/mi_hb5558/is_200711/ai_n22054377.[dead link] findarticles.com.
- Genetic Engineering & Biotechnology News(Paper). 36 (14): 8. August 2016.
- ^ Porter, Jon (September 17, 2019). "Apple invests an extra $250 million into glass supplier Corning". The Verge. Retrieved September 17, 2019.
- ^ "Form 10-K Annual Report for the Fiscal Year Ended December 31, 2021 Corning, Inc". SEC.gov. U.S. Securities and Exchange Commission. February 14, 2022.
- ^ "Corning, Form DEF 14A, Filing Date Mar 11, 2013". secdatabase.com. Archived from the original on May 24, 2013. Retrieved March 28, 2013.
- ISBN 9780198032311.
corning GE light bulbs.
- ^ "Corning Reaches Agreement to Sell Steuben". Corning Incorporated. July 23, 2008. Archived from the original on August 28, 2008.
- ^ Corning to Acquire MobileAccess Archived October 4, 2017, at the Wayback Machine, Evelyn M. Rusli, New York Times, February 1, 2011
- ^ "Corning Acquires SpiderCloud Wireless". Corning Incorporated. Archived from the original on October 4, 2017.
- ^ "Corning Closes Acquisition of Substantially All of 3M's Communication Markets Division".
- ^ "Board of Directors - Investor Relations". Corning. Archived from the original on March 15, 2024. Retrieved March 15, 2024.
Further reading
- "The Trials of Amory Houghton Jr". Forbes. September 1977. Archived from the original on November 8, 2022.
- Gardiner, Bryan (September 24, 2012). "Glass Works: How Corning Created the Ultrathin, Ultrastrong Material of the Future". Wired.
External links
- Official website
- Business data for Corning Inc.: