Aug 2 2010
New York-based company, Corning, has announced that it will build a new, state-of-the-art LCD glass production unit in Beijing at an estimated cost of USD800 million. The facility was planned to meet the growing demand for flat-screen computers and televisions.
The Beijing unit will have about 8.5-generation glass finishing and glass melting capabilities. This mean glass sheets used for constructing large-sized TV panels can be produced in the new facility.
Corning will build the Beijing unit at the Digital TV Industry Park, located inside the Economic Technological Development Area. Production operations are scheduled to begin in 2012.
According to Corning, continuous demand for LCD laptops, TVs and computers has projected a positive outlook for these products, and annual demand for LCD glasses in 2010 is expected to be around 2.9 billion to 3.1 billion sq. ft. Due to the increased demand, the company has increased its capital cost from USD1.2 billion from its present USD1 billion. Corning has also planned to increase the manufacturing capacity of its Taiwan unit.
The Beijing facility will enable Corning to move closer to its key customers such as LG Display and Sharp. Earlier, LG and Sharp had announced that they will establish sophisticated manufacturing units in Beijing to produce large-sized TV panels.
Source: http://www.corning.com