Corning Adds LCD Glass Capacity in TaiwanCornings's Taichung facility, shown here with Phase 4 in the foreground, will increase
06 Fevereiro 2008 - 7:03PM
Business Wire
Corning Incorporated (NYSE:GLW) announced today that its board of
directors has approved a capital expenditure plan of $453 million
to further expand its liquid crystal display (LCD) glass substrate
manufacturing facility in Taichung, Taiwan. This will be the fourth
phase of expansion for the Taichung facility, which opened in 2006.
The additional capacity enables greater manufacturing capabilities
for a range of large-size substrates, including Generation (Gen) 8.
The expenditure will be incurred over the next two years, with mass
production scheduled to begin by the first quarter of 2009.
Production will continue to come online through the end of 2009.
These expenditures are included in the company�s previously
announced 2008 capital spending estimates. The Taichung facility
manufactures Gen 5 and larger glass substrates, suited to meet the
high demand of the LCD TV market. The glass manufactured at the
facility is Corning�s award-winning EAGLE XG� glass composition,
the first glass substrate to contain no added heavy metals or
halides. �As consumers express their clear preference for LCD
televisions, the industry is growing at a rapid rate, and we are
continuing to develop the Taichung facility in order to keep pace
with projected demand,� said James P. Clappin, president, Corning
Display Technologies. �The high demand for LCD TV panels has
translated to accelerated growth for our customers in Taiwan,� said
Alan T. Eusden, president, Corning Display Technologies Taiwan.
�Corning is focused on meeting customer supply agreements to
support panel manufacturers� ongoing advancement.� Over the past
two years, the 40-inch-and-above LCD TV market has been a primary
driver of growth for LCD glass demand. This growth in glass demand
is expected to continue, partly driven by the emergence of
50-inch-and-larger LCD TVs. Corning will provide more details on
the growth of the overall LCD glass substrate market at its annual
investor relations meeting on Feb. 8 in New York. 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.
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