Pittsburgh, PA – March 23, 2012 – Pittsburgh Corning Corporation today commemorates its 75th anniversary with celebrations at the company’s headquarters in Pittsburgh and operations and offices around the world. Pittsburgh Corning Corporation was chartered in 1937 to produce and sell glass block − then, a novel product − to the building and construction market. Today, the company has evolved into a leading global manufacturer of innovative glass products for the industrial, commercial and building markets.
Pittsburgh Corning Corporation is a privately-held equity affiliate of PPG Industries, Inc. and Corning, Inc. The company and its affiliates have operations spanning North America, Europe, the Middle East and Asia. These locations align Pittsburgh Corning globally with its major customers, which include some of the world’s best-known architectural, engineering and energy companies.
With its FOAMGLAS® cellular glass insulation, Pittsburgh Corning has earned a reputation for creating high-performance, premium quality, environmentally sustainable insulation systems. The company’s unique insulation products provide superior protection and energy conservation in a wide range of applications surrounding the commercial building envelope, on HVAC systems, cladding industrial process piping and supporting oil and gas storage tanks. Pittsburgh Corning glass block products are an architectural icon, widely used in commercial and residential buildings. More recent products include glass block windows that offer extreme protection from physical threat, hurricanes and tornadoes.
“It is significant for any company to remain profitable, strong and independent over 75 years of business. Pittsburgh Corning has achieved this milestone by earning the trust and confidence of our customers around the world,” said Phillip M. Martineau, Chairman and Chief Executive Officer of Pittsburgh Corning Corporation. “Pittsburgh Corning is in business today for many reasons, including the support of our shareholders, distributors and suppliers. But most important has been the dedication of thousands of employees of Pittsburgh Corning who contribute to taking care of our customers.”
During the late 60s, the company marketed an asbestos-containing insulation product it acquired from another company. In April, 2000, Pittsburgh Corning Corporation filed for Chapter 11 reorganization for asbestos-related reasons. Pittsburgh Corning has filed a Modified Third Amended Plan of Reorganization (POR) which includes a trust that will assume all asbestos-related liabilities. The company is awaiting confirmation of the POR, the next step in the process leading toward conclusion of its Chapter 11 reorganization.
“The POR will create a trust intended to do the right thing ─ help sustain the families and people who were harmed by asbestos,” said Martineau. “We look forward to concluding the Chapter 11 proceedings and to building on the strong foundation we’ve established to further strengthen our company and meet the challenges ahead.”
“Pittsburgh Corning Corporation had a promising start in 1937, with one innovative product and the support of two renowned companies – Pittsburgh Plate Glass Company and Corning Glass Works,” said Martineau. “Through 75 years, Pittsburgh Corning Corporation has consistently built on its promise. Our products have improved the lives of millions of people in virtually every country in the world. With our ever-expanding portfolio of innovative glass products that meet the environmental, performance and energy needs of our customers, we anticipate our future with the same confidence and optimism as our founders.”