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Corning to expand in India
By siliconindia staff writer
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Monday, 17 January 2005, 20:30 IST
NEW DELHI: US based glass major, Corning, the worldÂ’s largest maker of optic fibre cable maker with a large presence in glass and glass technology products will expand its India operations and is looking for double digit growth in India.
Corning has two joint ventures in India, Owens Corning and Samcor Glass has increased its employee strength by four times and is looking at R&D and manufacturing some of its products.
The company is currently looking at over 30 percent growth rate in sectors like Optic Fibres, lenses, bio tech and automobile segment.
The company is generating revenues in the region of Rs 130 crore in India, which is growing in the range of 20-30%. Though Corning has consolidated its manufacturing operations in few categories like optic fibres to few selected locations globally, the company is studying options of taking advantage of India as a base for some other categories of products.
Though all the staff currently in the Indian arm of Corning is involved in sales and marketing for the products that are imported, the company is also looking at opportunities in research and development in the future.
Concrete plans with respect to specific products to be manufactured or the type of research activity to be done in India has not been finalised as yet.