Corning Incorporated (NYSE:GLW) today hosted a grand opening ceremony
for the company’s new liquid crystal display
(LCD) glass substrate manufacturing facility in the People’s
Republic of China.
The plant, located in the Beijing Economic Technological Development
Area, is the company’s first TFT-LCD glass
production facility on the China mainland. The opening continues Corning’s
trend of entering an LCD-producing region as local market demand
expands. Corning currently has LCD glass facilities in the U.S., Japan,
Korea and Taiwan.
"Today marks the latest chapter in Corning’s
history of investment in China, where our businesses have responded to
the varied needs of the region’s many
high-technology industries,” said Wendell P.
Weeks, chairman and chief executive officer, Corning Incorporated. "This
plant reflects our commitment to grow with our customers and to support
one of China’s most important industries.”
John P. Bayne, president, Corning Display Technologies China, hosted the
grand opening celebration, together with Weeks and James P. Clappin,
president, Corning Display Technologies.
"As an industry leader in TFT-LCD glass and
other advanced display products, Corning is committed to providing
customers with reliable supply across our global network,”
said Bayne. "This facility demonstrates our
commitment to China and the growing TFT industry. We have added and will
continue to add many people to our organization, including highly
skilled technicians and engineers, as we continue to ramp operations
over the coming months.”
Previously, Corning stated that it expects global demand for liquid
crystal display glass to grow 25% to 30% in 2008, representing an
increase of more than 450 million square feet of glass to about 2.2
billion square feet by year-end. While much of that growth is driven by
the demand for LCD televisions, smaller applications like LCD monitors,
notebooks, and portable devices are also strong factors in overall glass
demand.
About Corning Incorporated
Corning Incorporated (www.corning.com)
is the world leader in specialty glass and ceramics. Drawing on more
than 150 years of materials science and process engineering knowledge,
Corning creates and makes keystone components that enable
high-technology systems for consumer electronics, mobile emissions
control, telecommunications and life sciences. Our products include
glass substrates for LCD televisions, computer monitors and laptops;
ceramic substrates and filters for mobile emission control systems;
optical fiber, cable, hardware & equipment for telecommunications
networks; optical biosensors for drug discovery; and other advanced
optics and specialty glass solutions for a number of industries
including semiconductor, aerospace, defense, astronomy and metrology.
Forward-Looking and Cautionary Statements
This press release contains forward-looking statements that involve a
variety of business risks and other uncertainties that could cause
actual results to differ materially. These risks and uncertainties
include the possibility of changes in global economic and political
conditions; currency fluctuations; product demand and industry capacity;
competition; manufacturing efficiencies; cost reductions; availability
of critical components and materials; new product commercialization;
changes in the mix of sales between premium and non-premium products;
new plant start-up costs; possible disruption in commercial activities
due to terrorist activity, armed conflict, political instability 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; stock price
fluctuations; and adverse litigation or regulatory developments.
Additional risk factors are identified 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.
Bookmarken
