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Owens Corning CFO to Step Down

2019-10-15 15:56:00| Nonwovens Industry Breaking News

Michael McMurray will continue as CFO through Oct. 23; Prith Gandhi will serve as interim CFO

Corning gets USD 250 mln from Apple to further glass development

2019-09-17 15:22:00| Telecompaper Headlines

(Telecompaper) Apple is investing another USD 250 million in Corning to help further the company's development of new glass materials for smart devices. The money comes from Apple's Advanced Manufacturing Fund, set up to support components manufacturers in the US, and follows USD 200 million given to Corning in May 2017.

Tags: development glass usd apple

Corning to lift dividends by 10%, distribute USD 8-10 bln to shareholders in 2020-2023

2019-06-14 15:42:00| Telecompaper Headlines

(Telecompaper) Corning has unveiled its Strategy and Capital Allocation Framework for 2020-2023, with new targets for the future. The latest framework follows the one from 2016-2019, which Corning said will be met. CEO Wendell Weeks explained that, by the end of the year, Corning have returned over USD 12.5 billion to shareholders, while investing USD 11 billion towards extending its leadership and delivering growth. For the years to 2023, the company intends to lift dividends per share by at least 10 percent per year and to buy back shares; it will distribute USD 8-10 billion to shareholders and put about 10-12 billion into RD&E (research and development and engineering), capital and mergers, plus acquisitions. The focus will still go towards organic growth.

Tags: in usd lift distribute