Corning Incorporated announced that it has completed the previously announced acquisition of the majority of the Discovery Labware business from BD (Becton, Dickinson and Company) for approximately $720 million in cash.The acquisition of the BD Discovery Labware business will expand Corning ... more
Corning Holds Grand Opening Ceremony for Life Sciences Manufacturing and Distribution Facility in ChinaCorning expands capacity to serve world's fastest growing Life Sciences market
Corning Incorporated announced the official opening of a new state-of-the-art manufacturing and distribution facility for Corning Life Sciences in China's Yangtze River Delta. The grand opening ceremony was held just over a year after Corning's Board of Directors approved the approximately $40 million (USD) capital expenditure plan in July 2010.
The facility, located in the Wujiang Economic Development Zone, combines labware manufacturing capacity with a full-service distribution center. This combination will enable Corning to provide customers in China its broad portfolio of cost-competitive labware solutions with high levels of service. In doing so, Corning is well positioned to support the growth of the life sciences market in China, which is expected to exceed 20% annually through 2015.
"Today's official opening represents another milestone for Corning in China. It reinforces our strategy to locate facilities in growth regions," said Eric S. Musser, chief executive officer of Corning Greater China. "With the opening of this facility, Corning is one of the first U.S. manufacturers of locally produced labware products with improved market access and local distribution in China. It further reflects our commitment to grow with the customers and to support the country's life sciences industry through a combination of strategic investments, innovative technologies, and leadership."
- Life Sciences
Corning Incorporated announced that it has reached a definitive agreement with BD(Becton, Dickinson and Company) (NYSE:BDX) to acquire the majority of its Discovery Labware unit for approximately $730 million in cash. The acquisition is expected to be completed later this year, subject to c ... more
Corning Incorporated announced that it has completed the acquisition of Mediatech, Inc. , a Virginia-based corporation, including Mediatech's subsidiary, KD Medical, Inc., a Maryland-based corporation. Mediatech is now a wholly owned subsidiary of Corning and will be integrated into Corning ... more