Corning Delays Expansion Plans
June 12, 2001
Corning Inc., citing market conditions, has announced that it is delaying expansion plans in order to pace its growth in manufacturing capacity and capital spending. Corning will delay construction of its Oklahoma City optical fiber manufacturing facility by 12 to 18 months, moving the expected date for initial production to late 2004 or early 2005, the company announced recently. The company will start to realize additional capacity at its Concord, N.C., plant in the first half of 2002. "We remain committed to our sixth optical fiber manufacturing facility in Oklahoma City and still expect the Concord plant to become the largest fiber manufacturing facility in the world,"' said Alan Eusden, Corning's senior vice president for optical fiber. "We remain confident that bandwidth demand will grow exponentially into the future, fueling overall growth for optical fiber," Eusden said.
The company's website is located at http://www.corning.com.