Ecmweb 17393 Link 3mtm One Pass Fiber Pathway Duct No Term 1024
Ecmweb 17393 Link 3mtm One Pass Fiber Pathway Duct No Term 1024
Ecmweb 17393 Link 3mtm One Pass Fiber Pathway Duct No Term 1024
Ecmweb 17393 Link 3mtm One Pass Fiber Pathway Duct No Term 1024
Ecmweb 17393 Link 3mtm One Pass Fiber Pathway Duct No Term 1024

3M Sells Off Communication Cables Business to Corning

Dec. 11, 2017
The 3M operations will join Corning's Optical Communications segment, boosting its high-bandwidth and optical fiber product offerings.

3M has agreed to sell "substantially all" of its Communication Markets Division, which manufacturers fiber-optic and copper communication cabling, to Corning Inc. for around $900 million. The business line, based in Austin, TX, employs around 500 people and generates sales of about $400 million annually.

The Communication Markets Division includes the brands xDSL, FTTx and structured cabling solutions. In some countries it also handles telecommunication systems integration services. The 3M operations will join Corning's Optical Communications segment, boosting its high-bandwidth and optical fiber product offerings. Acquired assets include the Austin headquarters, a dedicated manufacturing facility in Pontchâteau, France, and operations in Hannover, Germany.

“Corning leads in optical passive components and solutions. 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 Kinlin, executive vice president, Corning Optical Communications, in a Corning release. “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.”

Corning said the acquisition is part of a multi-year strategy and capital allocation framework to focus the company's portfolio with investments of $1 billion to $3 billion for acquisitions.

“After completing a thorough strategic review, we believe that this business will be well positioned with Corning,” Ashish Khandpur, executive vice president, 3M's Electronics & Energy Business Group, said in a 3M release. “I want to thank our Communication Markets Division team for their outstanding contributions.”

Subject to closing conditions, the deal is expected to close in 2018.

Corning has been expanding its production capacity for fiber-optic cable, most recently with an expansion of its facilities in Strykow, Poland, to meet rising demand in Europe, the Middle East and Africa.

Voice your opinion!

To join the conversation, and become an exclusive member of EC&M, create an account today!

Sponsored Recommendations

Electrical Conduit Comparison Chart

CHAMPION FIBERGLASS electrical conduit is a lightweight, durable option that provides lasting savings when compared to other materials. Compare electrical conduit types including...

Don't Let Burn-Through Threaten Another Data Center or Utility Project

Get the No Burn-Through Elbow eGuide to learn many reasons why Champion Fiberglass elbows will enhance your data center and utility projects today.

Considerations for Direct Burial Conduit

Installation type plays a key role in the type of conduit selected for electrical systems in industrial construction projects. Above ground, below ground, direct buried, encased...

How to Calculate Labor Costs

Most important to accurately estimating labor costs is knowing the approximate hours required for project completion. Learn how to calculate electrical labor cost.