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Corning to Acquire NZ Applied Technologies

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CORNING, N.Y., April 25 -- Corning Inc. has agreed to acquire the remaining equity in NZ Applied Technologies Corp. (NZAT) of Woburn, Mass., for up to $150 million in Corning common stock. Under the terms of the agreement, a significant portion of the purchase price is contingent upon NZAT achieving certain product development milestones following the completion of the transaction. Corning acquired an initial 20-percent share in NZAT in 1999. In making the announcement, Jean-Louis Malinge, Corning's business director for passive components, stated, The rapidly growing demand for...Read full article

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    Published: April 2000
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