CORNING, N.Y., July 24 -- Corning Inc.'s board of directors has approved the first of a three-phase, $180 million capital expenditure plan to expand and enhance the company's liquid crystal display (LCD) glass manufacturing facility in the Tainan Science-based Industrial Park, Taiwan. The company expects the expansions to be completed by the end of 2004 and production to be initiated by the 2004 second quarter.
Corning said it is increasing its manufacturing capacity in Taiwan to keep pace with anticipated industry demand and the expected shift to larger glass sheets by LCD manufacturers. Corning said it believes the LCD market will continue to grow, driven by increased market penetration of LCD desktop monitors, continued growth in sales of notebook computers, increased average screen size and growth in LCD televisions. The pace of this growth may vary from quarter to quarter, it added.
This new investment will more than double the plant's capacity for melting, forming and finishing Generation 5 glass substrates, while providing additional melting and forming capacity for both Generation 5 and 6 substrates. Expansion and construction will be phased in to meet anticipated market growth.
"This additional investment represents Corning's ongoing commitment to the LCD industry as a whole and its growth in this region in particular." said Donald B. McNaughton, senior vice president of Corning's display businesses.
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