A $15 million deal with the U.S. Defense Department was recently signed by technology firm Corning Inc. (GLW). Using its technical leadership, the organization expands its position in the unique medical glass industry.
Corning obtained resources for the implementation of automated production in the United States. For robotic dispensers, Corning may produce glass tips used in medical diagnostics. The contract was signed as part of the fight against COVID-19. There were shortages of some medical devices and materials in the early days of the pandemic, and the U.S. government tries to address the shortcomings in the sectors concerned.
As a pioneer in the manufacturing of glass products for medical and research laboratories, Corning earned the contract. For growing cells and producing ultra-pure solutions, Corning’s glassware and equipment parts are used. Given the fact that the Corning PYREX special medical glass originated back in 1915, it remains significant and is frequently upgraded. Despite the obvious simplicity of the job, the manufacture of medical glass is a complicated operation, because high purity (transparency and absence of impurities), as well as a very smooth surface, must be maintained at the same time, so that glass products can be quickly cleaned and sterilized, and micro-cracks and defects cannot retain bacteria and other pollutants. Thanks to its consistency, in addition to medicine and research, PYREX glass is used in industrial processing and food storage.
At the January 15 trading, share Corning Incorporated (GLW) (-0.60%) was worth $37.8. The market capitalization of the company was about $29 billion.