Corning to Double Flat Panel Capacity

CORNING, N.Y., Oct. 26 -- In response to demand for flat panel computer displays, Corning Inc. announced plans to double its global production capacity for active matrix liquid crystal display (AMLCD) glass substrates by the end of 2000. The company said it has already begun the expansion of its Japanese and Korean facilities; the first unit of new capacity is scheduled to come on-line in January 2000, with additional units to follow throughout the year. Corning will also build a new finishing facility in Taiwan, which the company expects to complete in 2001.
This announcement reinforces Corning's commitment to the liquid crystal display industry, said Peter Volanakis, executive vice president of Corning's Advanced Display Products. We expect today's $400 million market for AMLCD glass substrates to continue to grow rapidly during the next five years. We are committed to growing with our customers and to providing them with the products they need to advance the use of flat panel displays.