Rochester, NY 8/10/2009 5:20:23 PM
Pre-Market - Corning Inc., GLW - Corning to Focus More on Company’s Environmental Technology Units
Corning Inc.
Corning Inc. recently announced that the company will further consolidate its environmental technologies unit in order to reduce company’s cost and increase manufacturing efficiencies.
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"The near-term outlook for growth in the emissions-control products markets is much different than we thought even a year ago, so we must adjust our organization to reflect these new business dynamics," said Peter F. Volanakis, Corning's president and chief operating officer in a statement. "We now believe that our near-term environmental technologies revenue opportunity is 20 percent to 30 percent lower than we had planned when we built the organization."
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