Corning Forms Supply Pacts for Glass Packaging
Corning, a material-sciences company, has formed two separate supply pacts for its new glass packaging product, Corning Valor Glass, an alkali aluminosilicate-based parenteral drug packaging product for injectable drugs. The pacts follow a July 2017 announcement by Corning involving a $4-billion investment, including manufacturing, in pharmaceutical packaging with the introduction of Valor Glass.
Under the first agreement, Corning formed an collaboration with Stevanato Group, a Dese, Italy-based parenteral glass packager, for supplying Corning Valor Glass. Corning and Stevanato Group have been working together since 2011 for pharmaceutical containers. The latest agreement extends that relationship and combines Stevanato’s converting technology with Valor Glass.
In July 2017, Corning and the Dusseldorf, Germany-based contract packaging company, Gerrsheimer, partnered for the supply of Valor Glass to the pharmaceutical industry. Corning and Gerresheimer have been working together since 2015 in the pharmaceutical glass packaging market.
In July 2017, Corning announced an investment of $4 billion in pharmaceutical packaging with the introduction of Valor Glass. Corning plans to make an initial investment of $500 million in the project, including manufacturing at facilities in New York, New Jersey, and a now undisclosed location in the Southeast in the US. The company says the first $500-million phase of the investment will create 1,000 new US jobs as part of an overall planned investment of $4 billion and the creation of 4,000 new high-tech jobs.