Corning Incorporated (NYSE:GLW), announced that its wholly owned subsidiary, Corning International Corporation, has completed a transaction to acquire shares in an equity company with Vietnam Post and Telecommunications Corporation (VNPT), Vietnam's primary telecommunications operator. Under the arrangement, Corning and VNPT will each own 50 percent of the company, which will manufacture fiber optic cable under its existing name, Fibre Optic Cable and Accessories Limited (FOCAL). Terms were not disclosed.

The option to purchase shares in FOCAL resulted from Corning Incorporated's acquisition last year of Siemens' fiber optic cable business. Corning first announced an agreement in principle with VNPT last November. Corning Cable Systems, with headquarters in Hickory, N.C., USA, will manage Corning's interest in FOCAL.

About FOCAL:

Established in 1996, FOCAL is licensed to manufacture fiber optical cable.

About Corning Cable Systems:

Corning Cable Systems, wholly owned by Corning Incorporated (NYSE:GLW), is a manufacturer of fiber optic and copper communications system solutions for voice, data, and video network applications. Corning Incorporated manufactures optical fiber, cable and photonic products for the telecommunications industry. For more information, visit www.corning.com.