Corning to acquire Lucent's fiber and cable interests in China

July 30, 2001
July 30, 2001--Corning Incorporated, announced it has reached an agreement with Lucent Technologies to purchase Lucent's controlling equity interests in Lucent Technologies Shanghai Fiber Optic Co., Ltd and Lucent Technologies Beijing Fiber Optic Cable Co., Ltd.

Corning Incorporated (NYSE:GLW), announced it has reached an agreement with Lucent Technologies (NYSE:LU) to purchase Lucent's controlling equity interests in Lucent Technologies Shanghai Fiber Optic Co., Ltd and Lucent Technologies Beijing Fiber Optic Cable Co., Ltd. for an aggregate payment of $225 million in cash. Corning's purchase of these interests is subject to the satisfaction of certain conditions including, the approvals of the other equity shareholders of each joint venture and relevant governmental approvals.

As a manufacturer and supplier of optical fiber, optical cable and photonic components, Corning intends to expand its presence in the growing Chinese telecommunications marketplace. Lucent�s assets in China will help expand Corning�s presence in the region.

About Corning:

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.

Sponsored Recommendations

Coherent Routing and Optical Transport – Getting Under the Covers

April 11, 2024
Join us as we delve into the symbiotic relationship between IPoDWDM and cutting-edge optical transport innovations, revolutionizing the landscape of data transmission.

Data Center Network Advances

April 2, 2024
Lightwave’s latest on-topic eBook, which AFL and Henkel sponsor, will address advances in data center technology. The eBook looks at various topics, ranging...

Supporting 5G with Fiber

April 12, 2023
Network operators continue their 5G coverage expansion – which means they also continue to roll out fiber to support such initiatives. The articles in this Lightwave On ...

FTTx Deployment Strategies

March 29, 2023
Cable operators continue to deploy fiber in their networks at anincreasing rate. As fiber grows in importance, proper choices regardinghow to best fit fiber to the home together...