3M fiber optic cable

3M Sells Off Communication Cables Business to Corning

The 3M operations will join Corning's Optical Communications segment, boosting its high-bandwidth and optical fiber product offerings.

3M has agreed to sell "substantially all" of its Communication Markets Division, which manufacturers fiber-optic and copper communication cabling, to Corning Inc. for around $900 million. The business line, based in Austin, TX, employs around 500 people and generates sales of about $400 million annually.

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