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Derivatives and Financial Risk Management for Corning Inc.
Member rating: No Rating | Words: | Submitted: Tue Jun 29 2004
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Wilfrid Laurier University BU 623: Derivatives and Financial Risk Management Case Presentation #1 Due June 29, 2004 Submitted To: Professor Madhu Kalimipalli Submitted By: Adrian de Machado 029001112 Lino Giacomini 039004455 Ayan Banerjee 039004294 Company Background Corning Inc., established about 150 years back, is a diversified technological company having three broadly defined operating segments: Telecommunications, Advanced Materials and Information Display. Headquartered in New York, Corning had revenue of $4.6 billion and net income of around $520 million in 1999. The telecommunication Division accounted for around 70% of the total revenues. Corning was the world's largest manufacturer of optical fiber and amplifiers, with a market share of 50%. Within the telecommunication division the Photonics business was growing at triple digit annually. The non-telecommunication divisions were also performing at impressive rates. As well, Corning was also the largest producer of flat glass panel for LCDs and had a 60% world market share. In addition Corning's biotechnology related products were experiencing a healthy...
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