Rochester, NY 8/11/2009 2:23:32 PM
After Hours - Corning Incorporated, GLW - Corning to Give More Focus on the Environmental Technology Units of the Company
Corning Incorporated
Corning Inc. announced it will further consolidate the environmental technologies unit of the company to reduce its 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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