Corning® Willow® Glass to be offered as part of
DIRTT's suite of interior construction solutions
Calgary, AB Feb 3, 2015 - DIRTT (TSX:DRT), has entered into a strategic collaboration with Corning Incorporated (NYSE: GLW), one of the world's leading innovators in materials science. This strategic relationship will bring Corning® Willow® Glass to DIRTT's suite of interior construction solutions.
Thirty times thinner and lighter than standard 6 mm soda lime glass, 200 µm Willow Glass is an ultra-thin, flexible, display-grade glass that enables DIRTT - for the first time - to apply a pristine, durable glass surface to a wide range of next generation products. Willow Glass is chemically durable, scratch resistant, bendable, and easy-to-clean.
"Our collaboration with Corning brings the interior construction industry one of the most powerful and original glass solutions the world has ever seen: Willow Glass," Mogens Smed, co-founder and chief executive officer of DIRTT, said. "Innovation is the foundation of our business. What could be more natural than the global leader in specialty glass collaborating with the world leader in modular interior construction?"
"DIRTT's commitment to innovation is very similar to our approach here at Corning. We are excited by the opportunity to collaborate with DIRTT as they incorporate Willow Glass into their interior construction offerings," said Gilbert Chorosz, managing director, Willow Glass.
Introducing Willow Glass to its suite of solutions, DIRTT will see strong operational efficiencies in manufacturing its interior construction solutions. Clients will notice key benefits, such as improved accuracy, more rapid delivery, freight savings up to 70%, enhanced acoustic performance, and a wide array of design capabilities. For integrated technology applications, DIRTT will continue to use back painted glass solutions.
DIRTT Environmental Solutions (www.dirtt.net) uses its proprietary 3D software to design, manufacture and install fully customized prefabricated interiors. Our customers in the corporate, government, education and healthcare sectors benefit from DIRTT's precise design and costing; rapid lead times with the highest levels of customization and flexibility; and faster, cleaner construction.
DIRTT has offices, manufacturing facilities and Green Learning Centers across North America, the Middle East, Europe and Asia, in addition to a network of more than 100 sales distribution partners globally. DIRTT trades on the Toronto Stock Exchange under the symbol "DRT."
About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science. For more than 160 years, Corning has applied its unparalleled expertise in specialty glass, ceramics, and optical physics to develop products that have created new industries and transformed people's lives. Corning succeeds through sustained investment in R&D, a unique combination of material and process innovation, and close collaboration with customers to solve tough technology challenges. Corning's businesses and markets are constantly evolving. Today, Corning's products enable diverse industries such as consumer electronics, telecommunications, transportation, and life sciences. They include damage-resistant cover glass for smartphones and tablets; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for high-speed communications networks; trusted products that accelerate drug discovery and manufacturing; and emissions-control products for cars, trucks, and off-road vehicles.
Forward-Looking and Cautionary Statements: Corning
This press release contains "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning's financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are detailed in Corning's filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
Forward-Looking Statements: DIRTT
Certain information and statements contained in this news release constitute "forward-looking information" and "forward-looking statements" (collectively, "Forward-Looking Information") as defined under applicable Canadian securities laws and the Company hereby cautions investors about important factors that could cause the Company's actual results or outcomes to differ materially from those projected in any Forward-Looking Information contained in this news release. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "will continue", "is anticipated", "believes", "estimated", "intends", "plans", "projection" and "outlook"), are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such Forward-Looking Information.
DIRTT Media Relations Contact:
Corning Media Relations Contact:
Kathleen M. Young
Corning Investor Relations Contact:
Ann H.S. Nicholson