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3M to Buy Corning Precision Lens

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MAPLEWOOD, Minn., Nov. 12 -- 3M Co. announced today it has agreed to pay $850 million in cash for Corning Precision Lens Inc., the largest worldwide manufacturer of lens systems for rear-projection televisions. Corning Precision Lens, based in Cincinnati, is a wholly-owned subsidiary of Corning Inc., based in Corning., N.Y. 3M said it believes display components represent a multibillion-dollar growth industry. Digital videodiscs, or DVDS, and high-definition televisions are driving the growth in this industry as more consumers purchase large-screen, rear-projection TVs for home theaters, the...Read full article

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    Published: November 2002
    lensesNews & FeaturesOptics

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