Corning (GLW) will spend US$453 million to further expand its liquid crystal display glass substrate manufacturing facility in Taichung, Taiwan.
"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, in a prepared statement.
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 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 Eagle XG glass composition, the first glass substrate to contain no added heavy metals or halides.
"The high demand for LCD TV panels has translated to accelerated growth for our customers in Taiwan," added Alan T. Eusden, president, Corning Display Technologies Taiwan. "Corning is focused on meeting customer supply agreements to support panel manufacturers" ongoing advancement."