5 April 1999

Corning Incorporated held a ground breaking ceremony for its new, US$77 million catalytic converter substrate manufacturing facility in Shanghai, China. The ceremony took place at the Pudong, Shanghai site, where construction of Corning's Asian regional manufacturing and marketing facility will begin this summer. The wholly owned Corning facility will produce ceramic catalytic converter substrates for automobiles, trucks, buses and motorcycles. Shipments of products to Asian automobile manufacturers are scheduled to begin in early 2001.

"Tightening environmental regulations in China and Asia, as well as stronger Asian automotive output from an increasing standard of living will double the demand for catalytic converter substrates by 2003," said Roger G. Ackerman, Corning's chairman and chief executive officer. "Added to the Japanese market, this represents a tremendous opportunity in Asia."

In addition to manufacturing, the state-of-the-art Corning plant will also include sales, marketing and engineering operations for the company's ceramic catalytic converter substrates. The facility, in Pudong's Jinqiao industrial zone, will supply automobile manufacturers throughout Asia, while meeting the specific needs of China's vehicle producers.

Today, Corning manufactures catalytic converter substrates in Erwin, New York (USA); Blacksburg, Virginia (USA); and Kaiserslautern, Germany. Corning currently operates substrate sales and customer service offices in Tokyo, Japan; Seoul, South Korea; New Delhi, India; Sydney, Australia; Singapore; Taiwan; Sao Paulo, Brazil; Wiesbaden, Germany; Troy, Michigan; and Corning, New York.

Corning also manufactures optical fiber, cable and components, high-performance glass and components for television, electronic displays for communications and communications related-industries, and other advanced materials for scientific and environmental markets. Corning's total revenues in 1998 were $3.5 billion.

Source: Corning