R&D hub will discover and develop solutions for telecommunications industry
CORNING, NY, March 25, 2019 /CNW/ - Corning Incorporated (NYSE: GLW) today formally opened a research and development center in Montreal, Canada, focused on discovering and developing software solutions for the telecommunications industry.
The Corning Technology Center Montreal will serve as Corning's global center of software innovation to support emerging technologies such as artificial intelligence, augmented reality, cloud computing, and data analytics, as well as software solutions for optical-wireless networks. Software engineers from Corning's Research, Development and Engineering organization will collaborate with developers from iBwave Solutions, the Montreal-based provider of networking software solutions that Corning acquired in 2015.
The Montreal site joins Corning's network of research and development laboratories throughout North America, Europe and Asia, anchored by the company's Sullivan Park innovation center in Corning, N.Y. Over the next three to five years, Corning intends to hire software engineers, development team managers, and data analysts at the Montreal center.
"The combination of transformative technologies and applications such as 5G, artificial intelligence, and the Internet of Things depends on the optical connectivity solutions made possible by Corning's innovations," said Claudio Mazzali, senior vice president of technology for Corning's Optical Communications business segment. "The work that will take place here in our Montreal technology center will extend Corning's innovation capabilities beyond optical transport and connectivity, all the way to the intelligence required to deploy and enable those applications. Montreal is emerging as a major center of software innovation, and Corning is glad to be part of it."
The Montreal center's initial focus will be software solutions for telecommunications networks, helping Corning's customers unlock opportunities presented by emerging technologies. It will eventually become a hub for software innovation across all of Corning's business segments.
"In addition to the immediate and near-term applications in Optical Communications systems, what is also very exciting to me about Corning Technology Center Montreal is how these new capabilities in software, artificial intelligence and machine learning will support a corporate strategic initiative in materials and process informatics and modeling across our technologies and businesses," said David Morse, Corning executive vice president and chief technology officer. "I am delighted to welcome the CTCM team to Corning's global network of technology centers."
Corning Technology Center Montreal will build ties to the region's software-innovation community through membership in IVADO, the Montreal-based research institute for data science, operational research, and artificial intelligence.
"Our data science ecosystem will greatly benefit from collaborative projects with the Corning Technology Center Montreal, bridging academic expertise and business needs," said Gilles Savard, chief executive officer of IVADO. "We are thrilled to welcome Corning as our newest IVADO member and look forward to working together on developing innovative digital solutions for the telecommunications industry."
"We are delighted to see Corning, one of the world's most innovative companies, joining the thriving technology community in Montreal – further raising the region's profile as a hub for software research and development," said Valérie Pisano, president and chief executive officer of Montreal-based MILA, a research institute for artificial intelligence.
Corning Technology Center Montreal aligns with Corning's strategy for success through sustained investment in research and development, a unique combination of material and process innovation, and close collaboration with customers to solve technology challenges.
Caution Concerning Forward-Looking 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 effects of acquisitions, dispositions and other similar transactions by the Company, the effect of global business, financial, economic and political conditions; tariffs and import duties; currency fluctuations between the U.S. dollar and other currencies, primarily the Japanese yen, New Taiwan dollar, euro, Chinese yuan, and South Korean won; product demand and industry capacity; competitive products and pricing; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; possible disruption in commercial activities due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, or major health concerns; unanticipated disruption to equipment, facilities, IT systems or operations; effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; rate of technology change; ability to enforce patents and protect intellectual property and trade secrets; adverse litigation; product and components performance issues; retention of key personnel; customer ability, most notably in the Display Technologies segment, to maintain profitable operations and obtain financing to fund their ongoing operations and manufacturing expansions and pay their receivables when due; loss of significant customers; changes in tax laws and regulations including the Tax Cuts and Jobs Act of 2017; and the potential impact of legislation, government regulations, and other government action and investigations.
For a complete listing of risks and other factors, please reference the risk factors and forward-looking statements described in our annual reports on Form 10-K and quarterly reports on Form 10-Q. 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.
In accordance with guidance provided by the SEC regarding the use of company websites and social media channels to disclose material information, Corning Incorporated ("Corning") wishes to notify investors, media, and other interested parties that it uses its website (http://www.corning.com/worldwide/en/about-us/news-events.html) to publish important information about the company, including information that may be deemed material to investors, or supplemental to information contained in this or other press releases. The list of websites and social media channels that the company uses may be updated on Corning's media and website from time to time. Corning encourages investors, media, and other interested parties to review the information Corning may publish through its website and social media channels as described above, in addition to the company's SEC filings, press releases, conference calls, and webcasts.
About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science, with a more than 165-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries.
Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display technology, automotive, and life sciences vessels. Corning's industry-leading products include damage-resistant cover glass for mobile devices; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for state-of-the-art communications networks; trusted products to accelerate drug discovery and delivery; and clean-air technologies for cars and trucks.
The Institute for Data Valorization (IVADO) is a joint initiative of HEC Montréal, Polytechnique Montréal and Université de Montréal that brings together nearly 100 industrial, academic and government partners. With over 1,100 member researchers, IVADO is a multidisciplinary center of advanced expertise in statistics, artificial intelligence and operations research.
IVADO's mission is to 1) contribute to the development of an economic sector in big data processing for decision making; 2) create privileged partnerships between industry and the administrative, social and academic sectors; 3) contribute to the advancement of knowledge and train new generations of data scientists; and 4) foster exchange and knowledge sharing between experts, partners, researchers and students. IVADO provides a framework for six research centers: Canada Excellence Research Chair in Data Science for Real-Time Decision Making, CIRRELT, CRM, GERAD, MILA and Tech3Lab.
SOURCE Corning Incorporated
For further information: Media Relations Contact: Joe Dunning, (607) 974-5006, [email protected]; John Arwood, (828) 901-6424, [email protected]; Investor Relations Contact: Ann H.S. Nicholson, (607) 974-6716, [email protected]