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(Sharecast News) - Corning surged on Monday after Amazon announced a multibillion-dollar agreement with the technology company - which manufactures advanced glass and fibre optic technology - that will create 1,000 new jobs.
Under the multi-year agreement, Corning will produce optical fibre for data centres and strengthen the US supply chain. The deal will create a thousand jobs at Corning's North Carolina facilities, hundreds of construction jobs, and a workforce training program.
Amazon will work with Corning on a new program that will expand its Fiber Optic Technician Training Program with Catawba Valley Community College to train students for careers in fibre optic manufacturing and related technical roles.
AWS chief executive Matt Garman said: "Amazon's investments in North Carolina have created more than 26,000 jobs across the state. This multibillion-dollar agreement with Corning continues that commitment, channelling investment into American manufacturing and creating 1,000 new jobs at their facilities near our data centres.
"We're also partnering to train North Carolinians for highly skilled roles in fibre optics and fusion splicing. These long-term investments create long-term careers and real opportunity in the communities where we operate."
Corning chairman, CEO and president Wendell Weeks said: "This agreement with Amazon represents a significant milestone for Corning and for American manufacturing.
"For 175 years, Corning has pioneered the technologies that connect people and transform industries. Amazon's investment will help us expand production, create 1,000 new advanced manufacturing jobs at our facilities, and lead the way toward building a resilient US manufacturing base."
At 1411 BST, Corning shares were up 9% in pre-market trade at $193.61.
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