Thursday, October 6, 2005
Corning Inc. will allocate an additional $425 million into expanding an liquid crystal display (LCD) glass substrate fab under construction in Taichung, Taiwan.
This investment will be used to fund the third phase of the Taichung facility, with most of the expenditure to be incurred during 2006 to 2007.
Corning (Corning, N.Y.) announced plans for the first phase of the Taichung fab in July 2004, investing $750 million. Taichung is the company’s second glass fab in Taiwan, joining an existing plant in Tainan.
Slated for completion in 2007, the facility will ultimately manufacture Generation 5.5, 6, 7.5 and larger glass substrates to meet demand for desktop LCD monitors and flat-panel LCD televisions.
"Our goal is to keep pace with projected LCD industry demand," said James P. Clappin, president of Corning’s Display Technologies unit, in a statement. "However, we will phase the timing of production lines within the Taichung facility to meet the pending supply agreements with customers in Japan and Taiwan."
Regarding recent speculation regarding LCD industry inventory fluctuations, Corning vice chairman and chief financial officer James Flaws added, "We continue to believe that worldwide sales of LCD televisions will double this year compared to 2004. We expect the LCD industry will need to build inventory to support the growing television market which is more back-half loaded than the monitor and notebook computer markets."
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
