Corning Incorporated (NYSE: GLW) today broke ground on the previously announced $125 million expansion of Corning Shanghai Company Limited, Corning’s automotive substrate facility in Shanghai, China.
Members of the Chinese government, employees, and customers attended the ceremony. The expansion is expected to be operational in the second half of 2012.
“Today marks the second expansion of Corning’s automotive substrate facility and is another milestone in our commitment to China,” said Eric S. Musser, chief executive officer of Corning Greater China. “As the first substrate manufacturer to enter China 10 years ago, we are proud that Corning’s advanced emissions control products continue to help reduce vehicle emissions.”
“The automotive market in China is expected to grow steadily over the next few years,” said Thomas H. Lynch, general manager of Corning Shanghai Company Limited. “Tighter regulations, including the Euro 4 regulations that were recently adopted by Beijing and Shanghai, are driving the demand for Corning’s innovative emissions control products. Increasing light-duty substrate capacity at this facility will help light-duty customers in China and around the world to meet current and future requirements.”
Source: http://www.corning.com/