Date: 7 February 2008
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.
Media Relations Contacts - Corning:
James E. Terry
(607) 974-7343
terryje@corning.com
M. Elizabeth Dann
(607) 974-4989
dannme@corning.com
Media Relations Contact - Taiwan:
Jessica Chou
+886-2-27160338, ext# 6328
chouhf@corning.com
Investor Relations Contact:
Kenneth C. Sofio
(607) 974-7705
sofiokc@corning.com
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