Corning Holds Grand Opening Ceremony at Taichung LCD Glass Substrate Facility; Company's Second LCD Glass Substrate Plant in Taiwan to Add Significantly to Large-Sized LCD Substrates Supply.TAICHUNG, Taiwan -- Corning Incorporated Corning Incorporated NYSE: GLW is an American manufacturer of glass, ceramics and related materials, primarily for industrial and scientific applications. The company was known until 1989 as Corning Glass Works. (NYSE NYSE See: New York Stock Exchange : GLW GLW Glasgow Airport (UK) GLW Gross Laden Weight GLW Good Lady Wife (Australia) ) today hosted its grand opening ceremony of the company's LCD glass substrate facility at the Central Taiwan Science Park in Taichung, Taiwan. Corning has built a strong foundation in Taiwan by providing the Taiwan market with advanced technologies and innovative products, building a close relationship with Taiwan customers, and contributing to Taiwan's economy. "The shared commitment between Corning, our customers and the Taiwan government has produced a triangle of success, leading Corning to further invest in technology and capacity to better serve Taiwan's dynamic LCD panel Also called a "projection panel," it is a data projector that accepts computer output and displays it on a see-through liquid crystal screen that is placed on top of an overhead projector. See data projector. industry," James P. Clappin, president, Corning Display Technologies, said during his address to the many officials, customers and employees gathered for the grand opening celebration. The official opening of the Taichung facility is a key milestone for Corning in several ways. This facility represents Corning's largest capital investment announced for a single manufacturing facility worldwide at approximately US$ 1.5 billion. Moreover, when complete, this facility will be among the largest LCD glass substrate manufacturing facilities in the world and is designed for further expansion as needed as needed prn. See prn order. to maintain pace with the growth of Corning's customers. Eugene A. Verdon Jr., president, Corning Display Technologies Taiwan, expressed his appreciation to government officials, employees and customers who helped make this event possible, "The end result of all your incredible efforts is that we're standing in what will be one of the largest LCD glass facilities in Taiwan or around the globe. Not only do we expect Taiwan's market to grow, but we also anticipate that the innovations and technological advances made in Taiwan The Made in Taiwan mark is a country of origin label affixed to products to indicate that the said product is made in Taiwan, The Republic of China. The label is not regulated by any institution or law. will shape the global LCD industry." "Additionally," Verdon continued, "A team of talented, bright individuals will be vital to the success of our business and that of the TFT-LCD TFT-LCD Thin Film Transistor - Liquid Crystal Display industry in Taiwan." As a result of the development of the Tainan and Taichung facilities, Corning plans to hire and train hundreds of engineers, skilled technical workers and commercial staff for both facilities. For more information on career opportunities with Corning, please visit Corning Taiwan's web site: http://www.corning.com/tw/tc/careers/. About Corning Incorporated Corning Incorporated (www.corning.com) is a diversified technology company that concentrates its efforts on high-impact growth opportunities. Corning combines its expertise in specialty glass, ceramic materials, polymers and the manipulation of the properties of light, with strong process and manufacturing capabilities to develop, engineer and commercialize significant innovative products for the telecommunications, flat panel display A thin display screen for computer and TV usage. The first flat panels appeared on laptop computers in the mid-1980s, and the LCD technology became the standard. Stand-alone LCD screens became available for desktop computers in the mid-1990s and exceeded sales of CRTs for the first time , environmental, semiconductor, and life sciences industries. 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 or fluctuations in global economic and political conditions; tariffs, import duties and currency fluctuations; product demand and industry capacity; competitive products and pricing; manufacturing efficiencies; cost reductions; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. by larger customers in the liquid crystal display liquid crystal display (LCD) Optoelectronic device used in displays for watches, calculators, notebook computers, and other electronic devices. Current passed through specific portions of the liquid crystal solution causes the crystals to align, blocking the passage of light. industry and other businesses; changes in the mix of sales between premium and non-premium products; facility expansions and new plant start-up costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political instability or major health concerns; ability to obtain financing and capital on commercially reasonable terms; adequacy and availability of insurance; capital resource and cash flow activities; capital spending; equity company activities; interest costs; acquisition and divestiture activities; the level of excess or obsolete inventory Obsolete Inventory Term that refers to inventory that is at the end of its product life cycle and has not seen any sales or usage for a set period of time usually determined by the industry. This type of inventory has to be written down and can cause large losses for a company. ; the rate of technology change; the ability to enforce patents; product and components performance issues; changes in key personnel; stock price fluctuations; and adverse litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. or regulatory developments. These and other 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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