Corning’s $900 Million Optical-Fiber Business Buy From 3M ‘Largely’ Complete
Corning’s $900 million buy of 3M’s optical-fiber business (see 1801250017) is “largely” complete, said Corning Monday. It expects to close the sale of the remaining “telecommunications system integration services” business later in 2018, subject to “customary closing conditions and regulatory…
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approvals,” it said. Corning’s Optical Communications sector will acquire about $400 million in annual sales of high-bandwidth and optical-fiber products from 3M, said Corning’s mid-December announcement. The acquisition also extends Corning’s optical-fiber market reach and access to global customers, especially in “key growth areas” outside North America, said the company.