Corning Locates LCD Glass Factory in Beijing

Corning Inc. announced today that it will locate its liquid crystal display (LCD) glass substrate finishing facility in Beijing. With the facility plans, Corning became the first TFT-LCD glass substrate supplier to announce a production facility on the Chinese mainland. The amount of funding and date of completion for the project was not disclosed. In February, Corning said it was building the factory in China, but had not chosen the exact location. The company at that time estimated the volume of the LCD glass market grew approximately 60 percent worldwide in 2005. The company further said LCD TVs represented 11 percent of the global TV market in 2005. "We are pleased that we are able to make this announcement today," said Nitin Kulkarni, president of Corning Display Technologies, China, in a statement. "We recently concluded a rigorous site selection process, and while each location had much to offer we reached the decision that the Beijing Economic Technological Development Area is the appropriate location for our finishing facility."