August 15, 2008
Corning Receives Outstanding Corporate Innovator Award
Corning Incorporated (NYSE:GLW) announced today the company has received the 2008 Outstanding Corporate Innovator Award by the Product Development & Management Association (PDMA), the leading global advocate for product development and innovation. Corning was recognized for the strength of its innovation strategy - a "recipe" for success that draws on long-standing materials and process knowledge, deep market understanding and an entrepreneurial, collaborative culture.
"We are delighted to receive this award for new product innovation, especially as Corning celebrates 100 years of research and development this year," said Dr. Joseph A. Miller, chief technology officer. "Corning has a long history of life-changing innovation, but the past three years alone have resulted in an exceptional period of invention with new product launches such as EAGLE XG(TM) glass substrates, Gorilla(TM) glass, ClearCurve(TM) optical fiber, and DuraTrap(R) diesel filters - all based on entirely new glass and ceramic compositions."
Corning's strategy is focused on growth through innovation in new products and processes across five diverse business sectors and new business development. The "Magellan Process," highlighted as a best practice by PDMA, fosters dialogue with leading companies to help identify and screen market-driven ideas that could develop into next-wave opportunities, like mercury abatement to reduce emission from coal-fired power plants.
Other emerging technologies in the company's R&D pipeline include green lasers (to enable portable projection); microreactors (to facilitate more efficient chemical processing); and silicon-on-glass technology (to create advanced displays).
"Corning's sustained investment in R&D has produced a remarkable track record of innovation and continues to fuel our next wave of growth," said Miller. The company currently allocates 10% of revenues to R&D and recently began a $300 million expansion to its flagship research and development center at Sullivan Park in New York.
About the Product Development and Management Association (PDMA)
The PDMA is the premier advocate and comprehensive resource for product development and innovation professionals in the United States and abroad. The association is dedicated to improving the effectiveness of individuals and organizations in product development and management.
About Corning Incorporated
Corning Incorporated (www.corning.com) is the world leader in specialty glass and ceramics. Drawing on more than 150 years of materials science and process engineering knowledge, Corning creates and makes keystone components that enable high-technology systems for consumer electronics, mobile emissions control, telecommunications and life sciences. Our products include glass substrates for LCD televisions, computer monitors and laptops; ceramic substrates and filters for mobile emission control systems; optical fiber, cable, hardware & equipment for telecommunications networks; optical biosensors for drug discovery; and other advanced optics and specialty glass solutions for a number of industries including semiconductor, aerospace, defense, astronomy and metrology.