3M To Buy Corning Precision Lens
November 12, 2002

Minnesota-based 3M has agreed to buy Corning Precision Lens for $850 million in cash and turn the company into a subsidiary of 3M's Optical Systems Division.

Cincinnati-based Corning Precision Lens is the largest worldwide manufacturer of lens systems for rear projection televisions.

Corning employs about 1,500 people. Its 2002 sales are expected to be around $260 million.

Associated Press and Dispatch Productions, Inc., 2002. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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