Corning Makes Substantial Investments in LCD Glass Manufacturing in Korea, China

Diversified technology company Corning Inc. announced in early February that it will be making significant investments in liquid-crystal glass substrate manufacturing in China and Korea, according to a report by the Society for Information Display.

Corning plans to invest $75 million in Samsung Corning Precision Glass Co. Ltd. (SCP), a joint venture with Samsung in which each company will continue to have a 50% ownership.

Corning has also announced it plans to establish a new liquid-crystal display (LCD) glass substrate finishing facility in China. This will be the first thin-film transistor (TFT)-LCD glass substrate production facility in mainland China, according to Corning.

The company is currently considering several locations for the plant and has not disclosed the amount of funding for the project.

On Feb. 3, Corning`s Chief Operating Officer, Peter F. Volanakis, told investors the company`s LCD glass volume is expected to grow at a faster pace than the market in 2006.