Corning Inc

By Kim S. Nash  |  Posted 2002-10-10 Print this article Print

Corning's small specialty materials group tries to lead the money-losing glassmaker into the future of manufacturing.

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Corning Inc. Base Case

Headquarters: 1 Riverfront Plaza, Corning, NY 14831

Phone: (607) 974-9000

Business: Fiber optic and specialty glass products

Chief Information Officer: Dick Fishburn

Financials in 2001: $6.3 billion in sales; $5.5 billion net loss; $275 million operating loss

Challenge: Return to profitability next year by, in part, restructuring to depend less on sales of fiber optic gear, which was 70% of sales last year

Baseline Goals:

  • Cut expenses companywide by at least $265 million next year
  • Generate 70% of specialty product sales from new, as-yet unknown products by 2006
  • Double sales of specialty products to $600 million by 2006, from $300 million last year

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    Senior Writer
    Kim has covered the business of technology for 14 years, doing investigative work and writing about legal issues in the industry, including Microsoft Corp.'s antitrust trial. She has won numerous awards and has a B.S. degree in journalism from Boston University.

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