Corning is continuing on its buying streak by acquiring TR Manufacturing, a move that will deepen its optical portfolio with additional fiber component capabilities and vertical targets.
Specifically, Corning will be able to add TR Manufacturing's fiber and copper cable/component interconnects and electro-mechanical assemblies, which it sells OEMs (original equipment manufacturers) that target various industry segments, to its portfolio.
Besides the telecom industry Corning serves, TR Manufacturing will help deepen the company's presence in a number of other verticals, such as military/defense, security equipment, medical imaging and electronics manufacturing.
When the acquisition closes, the TR Manufacturing business will become a wholly owned subsidiary of Corning, reporting to Corning's Optical Communications business segment.
Set to close after meeting customary closing conditions, including regulatory approvals, Corning expects the acquisition to be completed by the end of the first quarter of 2015. Terms of the agreement were not disclosed.
This is the second acquisition Corning has made recently.
Earlier this month, Corning reached a deal to acquire Samsung's fiber optics business, a transaction that immediately enhances its Asia-Pacific market presence.
For more:
- see the release
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