Corning invested 800 million U.S. dollars in Beijing factory new LCD ITO glass
BackRelease Date：2012-08-17 16:15:59
Corning will invest about 800 million U.S. dollars, in China, the construction of new LCD glass substrate plant. In support of the Beijing Municipal Government, Corning LCD glass substrate facility at the new Beijing Economic and Technological Development Zone of Beijing Digital TV Industry Park. Plant will have the 8.5 generation glass substrates furnace and finishing capacity. Corning plans to be held in September this year the opening ceremony of the factory is expected to put into production the first half of 2012.
Corning s investment also includes the construction projects in other regions to expand the two flagship product EAGLE XG ® LCD glass substrate and the Gorilla glass production capacity. Prior to publication began in Taichung, Taiwan LCD glass plant expansion project, and restart the glass substrate plant in Japan s Shizuoka idle capacity to produce Gorilla glass used in a variety of purposes. Company plans further expansion in 2012 in Taichung plant capacity.
"These investments will enable Corning EAGLE XG products constantly to meet the demand, seize Gorilla glass rapidly growing market demand, to expand sales." Wendell P. Weeks, Corning s chairman and chief executive officer, said. Gorilla glass company expects this year s sales of special materials to more than 200 million U.S. dollars, by 2011 sales will reach 1 billion U.S. dollars. Gorilla glass has superior resistance to injury, anti-scratch properties, as a protective layer of glass applied to the countless types of portable devices and smart phone.
"Gorilla glass production capacity of the new demand TV-based glass coating applications." Weeks explains, "Gorilla glass is now information technology and portable equipment used by manufacturers, the new TV protection layer for future applications of glass create tremendous opportunities for growth. "
Growth of LCD glass substrate
"We expect the next few years, LCD glass grew strongly, mainly because the LCD TV continued market penetration in Asia and South America, growth and other global mature markets to accelerate the technology refresh cycle. So, we had the appropriate capacity investment to meet market needs. "president of Corning Display Technologies Clappin said.
"China is not just the world s leading consumer of LCD TVs in the next few years China will become a major producer of LCD TV panels countries. Today s investment decisions will give us a favorable market position." Clappin added.
"China s fast becoming a leader in the development of LCD panel, through capacity expansion, Corning will grow the Chinese market." Corning Greater China CEO Mengan Rui said, "These investment projects, as well as the company announced earlier Chinese automotive emission control product expansion and investment in life sciences, proving once again that Corning s long-term commitment to the Chinese market. "
Corning noted, has been higher than expected LCD TVs, notebook computers, desktop computers, the retail demand for consumer electronics products will improve in the second half of the sales forecast. Therefore, the company believes this year s annual demand for LCD glass is from 2.9 to 3.1 billion square ft. high expectations.
Because of this investment, Corning before this year s capital expenditure is expected from the one billion U.S. dollars to 12 billion. Company expects 2011 capital expenditure will be higher than the current year is expected. Corning will be July 28 Wednesday of the second quarter investor conference call to provide detailed investment information.
About Corning Incorporated
Corning is a special glass and ceramics global leader. With 150 years of materials science and process engineering knowledge, Corning creates and makes keystone components, these components are used in high-tech consumer electronics, mobile emissions control, telecommunications and life sciences. Our products include devices for LCD televisions, computer monitors and laptops glass substrates; for mobile emission control systems of ceramic substrates and filters; for optical fiber communication network, cable, hardware and equipment; for drug discovery optical biosensor; and for other industries including semiconductor, aerospace, defense, astronomy and metrology of advanced optics and specialty glass solutions.