Corning Incorporated acquires minority stake in Russian cable plant
Aug. 23, 2001--Corning International Corporation, has entered into an agreement to acquire slightly more than 25 percent of a manufacturer of optical fiber cable in Russia.
Corning Incorporated (NYSE:GLW) announced that its wholly owned subsidiary, Corning International Corporation, has entered into an agreement to acquire slightly more than 25 percent of TRANSVOK, a manufacturer of optical fiber cable in Russia.
Corning Cable Systems, headquartered in Hickory, N.C., will manage the equity venture. Corning will fulfill TRANSVOK's optical fiber requirements and will assist the equity company, located near Moscow, in pursuing potential markets in Russia.
Established in 1996 by the Russian Ministry of Railroads to satisfy the demand of the Ministry in optical cable used for the regional information infrastructure development, TRANSVOK serves all the Interconnected Communication Network of Russia. For more information, visit www.TRANSVOC.ru.
About Corning Incorporated:
Established in 1851, Corning Incorporated manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television, information technology and other communications-related industries. For more information, visit www.corning.com.