Corning To Bring Generation 8 Capability to Taiwan.Additional large size capacity will support customers in Taiwan and Japan CORNING, N.Y. -- 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) ) announced today 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 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. (LCD) at its Taichung, Taiwan manufacturing facility. 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 (www.corning.com) is the world leader in specialty glass and ceramics. Drawing on more than 150 years of materials science materials science Study of the properties of solid materials and how those properties are determined by the material's composition and structure, both macroscopic and microscopic. and process engineering knowledge, Corning creates and makes keystone components that enable high-technology systems for consumer electronics, mobile emissions control Emissions control may refer to:
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 The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). 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; 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. 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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