CORNING, N.Y. — Corning Incorporated (NYSE: GLW) announced today that its Advanced Optics business unit has been recognized with two 2018 Supplier Excellence EPIC Awards from Raytheon.
One of the awards recognizes Corning’s Keene, N.H., manufacturing facility for contributions to Raytheon’s Multi-Spectral Targeting System (MTS). These cutting-edge imaging systems are used by the U.S. Army and U.S. Navy for intelligence, surveillance, reconnaissance, and targeting purposes across a variety of rotary and fixed-wing aircraft.
In Keene, Corning applies its decades of expertise in advanced optics to develop electro-optical/infrared systems for the MTS. This is the second year in a row that the facility was recognized by Raytheon for supplier excellence.
The second award for 2018 was given to Corning’s Canton, N.Y., manufacturing facility for contributions to Raytheon’s AMRAAM? Advanced Medium Range Air-to-Air Missile. The Canton facility applies Corning’s deep expertise in materials science and proprietary manufacturing processes to create nose cones made of an extremely durable glass ceramic material called Corning? Pyroceram?.
Both the Keene and Canton manufacturing facilities have been serving the optics, aerospace, and defense industries for more than 30 years. The Keene and Canton facilities are integral in implementing Corning’s core technologies and helping extend its reach across several market-access platforms.
“These awards exemplify the strength of our long-term relationship with Raytheon,” said Cassandra Taliaferro, commercial director in Corning’s Advanced Optics business. “We are proud to leverage the strengths of these two manufacturing facilities and offer a comprehensive set of aerospace and defense solutions to our customers.”
Raytheon grants EPIC awards to its highest-performing suppliers for overall excellence in performance, innovation, and collaboration for one or more business units. The awards were recently presented by Raytheon executives to Corning in a ceremony at the Boston Marriott Long Wharf.
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This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global business, financial, economic and political conditions; tariffs and import duties; currency fluctuations between the U.S. dollar and other currencies, primarily the Japanese yen, New Taiwan dollar, euro, Chinese yuan, and South Korean won; product demand and industry capacity; competitive products and pricing; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels;?possible disruption in commercial activities due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, or major health concerns; unanticipated disruption to equipment, facilities, IT systems or operations; effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; rate of technology change; ability to enforce patents and protect intellectual property and trade secrets; adverse litigation; product and components performance issues; retention of key personnel; customer ability, most notably in the Display Technologies segment, to maintain profitable operations and obtain financing to fund their ongoing operations and manufacturing expansions and pay their receivables when due; loss of significant customers; changes in tax laws and regulations including the Tax Cuts and Jobs Act of 2017; and the potential impact of legislation, government regulations, and other government action and investigations.
For a complete listing of risks and other factors, please reference the risk factors and forward-looking statements described in our annual reports on Form 10-K and quarterly reports on Form 10-Q. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
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Raytheon Company, with 2017 sales of?$25 billion?and 64,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 96 years,?Raytheon?provides state-of-the-art electronics, mission systems integration, C5I??products and services, sensing, effects, and mission support for customers in more than 80 countries.?Raytheon?is headquartered in?Waltham, Mass.
About Corning Incorporated
Corning (www.tiaoman34.cn) is one of the world's leading innovators in materials science, with a more than 165-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries.
Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display technology, automotive, and life sciences vessels. Corning's industry-leading products include damage-resistant cover glass for mobile devices; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for state-of-the-art communications networks; trusted products to accelerate drug discovery and delivery; and clean-air technologies for cars and trucks.