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May 2, 2002
Corning and Alcoa Sign Long-Term Supply Agreement for Optical Fiber
CORNING, N.Y.--(BUSINESS WIRE)--May 2, 2002--
Corning to Supply LEAF(R), MetroCor(TM) and InfiniCor(R) fibers
to Alcoa through multi-year agreement valued at $100 million
Corning Incorporated (NYSE:GLW) and Alcoa Inc. (NYSE:AA) announced
today a strategic agreement for the supply of Corning optical fiber to
Alcoa's AFL Telecommunications business through 2005.
The multi-million kilometer agreement, worth more than $100
million, ensures an increasing volume of Corning LEAF(R),
MetroCor(TM), SMF-28(TM), SMF-28e(TM) and InfiniCor(R) fibers to AFL
Telecommunications each year to cover their worldwide fiber
AFL Telecommunications will use Corning's optical fiber to
manufacture optical ground wire (OPT-GW), all-dielectric
self-supporting (ADSS) cable and other fiber-optic cables, primarily
for use in networks for the power utility market. The agreement also
includes purchase of any new Corning optical fibers as they become
commercially available. The two companies have had a long-term supply
relationship for more than 15 years.
"This relationship with Corning ensures AFL a strategic long-term
position in the fiber-optic cable market," said Frank Larence,
president of AFL Telecommunications. "It allows us to support our
current solid customer base and ensures our ability to handle future
customer needs as demand for fiber-optic cable increases."
Robert B. Brown, vice president and general manager of Corning
Optical Fiber, added, "Corning is proud of its long-standing
relationship with AFL Telecommunications, a leader in the fiber-optic
industry. AFL was the first manufacturer of optical ground wire cable
in the United States and continues to lead both the U.S. and the world
in this market. We look forward to continuing to serve AFL and its
customers with high-quality Corning fiber and our technological
Corning invented the world's first low-loss optical fiber in 1970
and provides customers worldwide with high-value fiber solutions for
every network application. For more information on Corning's optical
fibers, visit www.corning.com/opticalfiber.
Alcoa is the world's leading producer of primary aluminum,
fabricated aluminum and alumina, and is active in all major aspects of
the industry. Alcoa's aluminum products and components are used
worldwide in aircraft, automobiles, beverage cans, buildings,
chemicals, sports and recreation, and a wide variety of industrial and
consumer applications, including such Alcoa consumer brands as
Alcoa(R) wheels, Reynolds Wrap(R) aluminum foil, and Baco(R) household
wraps. Among its related businesses are precision castings, vinyl
siding, closures, and electrical distribution systems for cars and
trucks. The company has 129,000 employees in 38 countries.
AFL Telecommunications is an industry leader in providing
fiber-optic products, engineering expertise and integrated services to
the electric utility, broadband, telco, OEM and private network
markets. It has operations in the U.S., Mexico and the U.K. For more
information, visit www.afltele.com.
About Corning Incorporated
Established in 1851, Corning Incorporated (www.corning.com)
creates leading-edge technologies for the fastest-growing markets of
the world's economy. Corning manufactures optical fiber, cable and
photonic products for the telecommunications industry; and
high-performance displays and components for television, information
technology and other communications-related industries. The company
also uses advanced materials to manufacture products for scientific,
semiconductor and environmental markets. Corning revenues for 2001
were $6.3 billion.