The U.S. company said the transaction, expected to close in the first quarter of 2014, would add about $350 million in annual profit before special items.Source: Reuters
Corning's chief financial officer, James Flaws, said SCP was set up at a time when the world was more regional.
"What we're able to do here is take a land-locked asset which could only serve Korea, and also an asset which could only serve liquid crystal display technology, and instead transform it to be able to serve any market with any specific glass products," he said on a conference call with analysts.
Samsung buys 7.4% stake in Corning
Posted on Wednesday, October 23 2013 @ 11:23 CEST by Thomas De Maesschalck