Corning Incorporated (NYSE: GLW) and Altechna R&D (Workshop of Photonics) announced today that, effective as of February 4, 2016, they have entered into a Joint Development Agreement to work together on the development of new laser glass processing technologies.
“The emerging opportunities for ultra-strong, ultrathin, and ultraclean glass processing solutions, along with a need for greater glass processing efficiencies, are driving the demand for laser processing technologies. We believe this strategic relationship with Workshop of Photonics will enhance our ability to deliver innovative laser processing solutions for glass”, said Michael Müller, Managing Director of Corning Laser Technologies.
“This strategic partnership with the global specialty glass production leader is recognition of the unique glass processing laser technology developed by Workshop of Photonics” said Gintas Šlekys, chairman of the Board of Altechna R&D (Workshop of Photonics). “We see this as a great opportunity to grow alongside Corning Incorporated by providing laser application R&D services”.
This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially.
These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments.
These and other risk factors are detailed in Corning’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
Corning (www.corning.com) is one of the world’s leading innovators in materials science. For more than 160 years, Corning has applied its unparalleled expertise in specialty glass, ceramics, and optical physics to develop products that have created new industries and transformed people’s lives. Corning succeeds through sustained investment in R&D, a unique combination of material and process innovation, and close collaboration with customers to solve tough technology challenges. Corning’s businesses and markets are constantly evolving. Today, Corning’s products enable diverse industries such as consumer electronics, telecommunications, transportation, and life sciences. They include damage-resistant cover glass for smartphones and tablets; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for high-speed communications networks; trusted products that accelerate drug discovery and manufacturing; and emissions-control products for cars, trucks, and off-road vehicles.
Workshop of Photonics (www.wophotonics.com) is an Altechna R&D brand dedicated to laser micromachining solutions. The Company specializes in a number of fields ranging from feasibility studies to laser micromachining workstations and state of the art technological solutions for industrial applications. Since 2007 Workshop of Photonics has been heavily investing and carrying out extensive research and development in the field of femtosecond laser micromachining. The Company most closely works with semiconductor, medical, photovoltaic, and other industry players. Workshop of Photonics follows the open innovation culture and relies on a vast network of laser sector companies, universities, and worldwide partners to find new applications and growth avenues.
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