Corning to Acquire Third Company in Two Months

30 January 2015—Global glass and optics corporation Corning (N.Y., USA) is again putting its money where its might is, in announcing plans to acquire the assets of the hyperspectral imaging provider NovaSol (Hawaii, USA). Corning announced on 2 December plans to acquire the fiber optic business of Korea-based Samsung Electronics by the end of March 2015, subject to customary closing conditions and regulatory approvals. On 9 January, Corning also completed the acquisition of fiber optic and copper cable and component provider TR Manufacturing (Calif., USA), announced 15 December, 2014.

On 27 January, in Corning’s fourth quarter earnings report, the company claimed its highest annual sales in its history, which ostensibly began in 1875 when Corning Glass Works became the ticker symbol “GLW.” The company achieved a remarkable sales goal of US$10.2 billion for 2014, a 29 percent increase over 2013 (adjusted for changes in the Japanese yen and Korean won, and other items unrelated to operations).

With the NovaSol acquisition, Corning will gain expertise that will enable development of advanced hyperspectral systems for industrial markets. NovaSol will become part of the Advanced Optics business within Corning’s Specialty Materials Division.