Thanks for visiting Fibre Systems.

You're trying to access an editorial feature that is only available to logged in, registered users of Fibre Systems. Registering is completely free, so why not sign up with us?

By registering, as well as being able to browse all content on the site without further interruption, you'll also have the option to receive our magazine (multiple times a year) and our email newsletters.

3M offloads communications division to Corning for $900M

Share this on social media:

Corning has agreed to buy substantially all of 3M’s Communication Markets Division to for $900 million in cash. The deal is part of the company’s strategy to spend $1 billion to $3 billion in acquisitions, Corning said.

3M’s communications business, which has annual global sales of about $400 million, consists of optical fibre and copper passive connectivity products for the telecom industry – including xDSL, FTTx and structured cabling systems – and, in certain countries, telecom system integration services.

“This transaction expands both our global market reach and our high-bandwidth portfolio. It also provides new co-innovation opportunities and enhances our ability to serve customers globally,” said Clark S. Kinlin, executive vice president, Corning Optical Communications. “As the industry’s only true end-to-end manufacturer and supplier of optical solutions, we look forward to bringing these two strong organizations together and welcoming a group of outstanding employees.”

3M’s Communication Markets Division is headquartered in Austin, Texas, with a dedicated manufacturing facility in Pontchâteau, France, and operations in Hannover, Germany. Approximately 500 3M employees are expected to join Corning when the transaction concludes.

“After completing a thorough strategic review, we believe that this business will be well positioned with Corning,” said Ashish Khandpur, executive vice president, Electronics & Energy business group. “I want to thank our Communication Markets division team for their outstanding contributions.”

The sale, which is subject to consultation or information requirements with relevant works councils and to customary closing conditions and regulatory approvals, is expected to close in 2018.

Company: 

Recent News

19 February 2020

Nokia is acquiring silicon photonics specialist, Elenion Technologies.

19 February 2020

New Zealand’s National Government has pledged $270m further investment to fast-track the roll-out of ultra-fast broadband.

18 February 2020

UK mobile operator, Three will make 5G mobile available in 65 new locations across the UK from the end of the month.

13 February 2020

The GSMA, organisers of MWC Barcelona, have taken the decision to cancel the 2020 event due to the ongoing global fears over coronavirus.