Industry news for optical fibre
+ Corning to Acquire Samsung Electronics’ Fiber Optics Business
+ Acquisition to support optical communications growth in Asia
+ CORNING, N.Y., December 02, 2014
Corning Incorporated (NYSE: GLW) announced today that it has reached a definitive agreement with Samsung Electronics Co., Ltd. to acquire its fiber optics business.
The acquisition is expected to be completed by the end of the first quarter of 2015, Samsung is a trusted provider of optical fiber and cable for customers in South Korea, China and Southeast Asia. When complete, the acquisition will augment Corning’s market access and enhance its broad portfolio of optical communications products in Asia. Corning will integrate Samsung’s fiber optic business, with manufacturing facilities in Gumi, South Korea, as well as in Hainan, China, into the Corning Optical Communications business segment upon closing of the acquisition.