Corning will buy units from Siemens

Article Abstract:

Corning Inc., world's leading oprical fiber producers, moved to buy Siemens AG's optical fiber and hardware businesses. Also, it will acquire the remaining 50% share of two joint ventures it has with Siemens for about $1.15 billion. Corning predicts that earnings will be diluted by less than 5% in 2000, as the company will assume $120 million in debt and pay $145 million above the purchase price if certain criteria are met, but the outlook is good for the accretivity in the coming years.

Diversified Companies, Germany, Siemens AG

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Corning says it will buy laser firm

Article Abstract:

Corning Inc. announced that it will purchase Oak Industries Inc. in a deal valued approximately at $1.8 billion (1.73 billion euros). The deal will allow Corning to offer important laser components for optical communication networks.

Other Electrical Equipment and Component Manufacturing, Electronic Components, Abstract, Electronic components industry, Oak Industries Inc.

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Pirelli's assets are getting as boost

Article Abstract:

Pirelli SpA's remaining technology assets are being re-rated by analysts, who are wondering how the tire maker will invest its money after the Euro4.08 billion sale of its optical-components business to Corning Inc.

Italy, Foreign operations, Financial analysis, STONE, CLAY, AND GLASS PRODUCTS, Optical Instrument and Lens Manufacturing, Rubber & Plastic Products, Plastics and Rubber Products Manufacturing, Optical instruments and lenses, RUBBER AND MISC. PLASTICS PRODUCTS, Optical Components ex Lenses, Plastics industry, GLW, Rubber industry, Optical instruments industry, Optical industry, Pirelli S.p.A., Optical components

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