Corning Incorporated announced today that its board of directors has approved preliminary funding for the development of a new liquid crystal display (LCD) glass substrate manufacturing facility, to be located in the Central Taiwan Science Park, Taichung, Taiwan.
Authorized design and engineering planning, site preparation and other initial project needs for the new facility are intended to begin immediately. Funding required for this new site plan is included in Corning's previously announced capital spending plans for 2004. Implementation and construction are pending full funding approval from the company's board of directors later this year.
“This new facility in Taichung, combined with the multiple expansions to our current facilities that we have announced over the past several months, will enable us to significantly grow our LCD glass substrate capacity to keep pace with rapid industry growth and increased migration to larger-generation glass substrates, particularly in Taiwan," said Donald B. McNaughton, senior vice president of Corning's display group.
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