Additional Large Size Capacity Will Support Customers in Taiwan and Japan
CORNING, N.Y. April 26 /Xinhua-PRNewswire/ -- Corning Incorporated (NYSE: GLW) announced on April 25 that its board of directors has approved a capital expenditure plan of $129 million to further expand manufacturing capacity for large-size glass substrates for active matrix liquid crystal displays (LCD) at its Taichung, Taiwan manufacturing facility.
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In addition to enabling Generation (Gen) 8 manufacturing capabilities in Taiwan, the investment will create additional finishing capacity for Gen 7.5. The expenditure will be incurred over two and a half years, with glass substrate production expected to begin by mid-2008.
"Very large Gen sizes, such as Gen 8, are all about TV," said James P. Clappin, president of Corning Display Technologies. "As LCD becomes a leading technology for televisions in the 40-inch and larger size range, this expansion helps our customers in Taiwan and Japan meet the growing demand."
"Bringing Gen 8 finishing capability to the Taichung facility offers the flexibility of meeting future Taiwan demand with local capacity," said Alan T. Eusden, president, Corning Display Technologies Taiwan.
At 2160 x 2460 mm, Gen 8 is currently the largest glass substrate available, but next-generation substrates are already on the horizon.
About Corning Incorporated
Corning Incorporated ( http://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.
