PARIS, January 19, 2016 /PRNewswire/ --
Saint-Gobain Sekurit and Corning Incorporated (NYSE:GLW) today
announced that they have signed an agreement to establish an
exclusive joint venture, equally owned by Saint-Gobain and Corning,
to develop, manufacture and sell lightweight automotive glazing
solutions. The venture is expected to build manufacturing
facilities to meet worldwide automotive market demand.
This new venture will take advantage of the unique synergies
available from its parent companies to bring revolutionary
innovations to the automotive market. Laminated windows made with
ultra-thin Corning® Gorilla® Glass for
Automotive and Sekurit's automotive glass and window technologies
offer a significantly improved combination of lightness, toughness
and optical quality over traditional solutions.
These thin, lightweight automotive glazing solutions can be used
for all laminated windows in an automobile and will significantly
reduce vehicle weight which will improve fuel efficiency,
environmental impact and vehicle handling. The joint venture's
advantaged glazing solutions will further enable auto makers to
develop the "car of the future," including improved head up display
images.
"By combining the know-how of Saint-Gobain, a world leader in
developing and processing automotive glass, with Corning's
innovative Corning® Gorilla® Glass
technology, the joint venture will provide the opportunity to
create a major innovation in one of Saint-Gobain's historical
businesses," said Houchan Shoeibi, president of Saint-Gobain
Sekurit.
"We are excited to collaborate with a world leader in automotive
glass, Saint-Gobain, to accelerate adoption of thin, lightweight,
durable and optically advantaged auto glazing," Martin J. Curran, executive vice president and
innovation officer, said. "Today's announcement further
demonstrates Corning's ability to leverage its glass fusion
manufacturing expertise and auto industry experience to extend
Gorilla Glass into the automotive glass market."
This agreement is subject to the approval of the relevant
competition authorities.
About Saint-Gobain
Backed by its experience and its capacity to continuously
innovate, Saint-Gobain, the world leader in the habitat and
construction market, designs, manufactures and distributes
high-performance and building materials providing innovative
solutions to the challenges of growth, energy efficiency and
environmental protection. With 2014 sales of €38.3 billion*,
Saint-Gobain operates in 66 countries and has more than 170,000
employees. For more information about Saint-Gobain, visit
http://www.saint-gobain.com and the twitter account @saintgobain,
or download the "Saint-Gobain Shareholder" application for tablet
and smartphone.
* restated excluding Verallia
Forward-Looking and Cautionary Statements
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.
About Corning Incorporated
Corning (http://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.
Saint-Gobain Press Relations:
Charles Hufnagel:
+33-1-47-62-30-10
Susanne Trabitzsch: +33-1-47-62-43-25
Saint-Gobain Analyst/Investor Relations:
Gaetano Terrasini: +33-1-47-62-32-52
Vivien Dardel: +33-1-47-62-44-29
Florent Nouveau:
+33-1-47-62-30-93
Corning Media Relations:
Daniel F.
Collins
+1-(607)974-4197
collinsdf@corning.com
Corning Investor Relations:
Ann H.S. Nicholson
+1-(607)974-6716
nicholsoas@corning.com
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SOURCE Saint-Gobain