Apr 25 2006
Corning Incorporated announced today that it will locate its liquid crystal display (LCD) glass substrate finishing facility, the first on the China mainland, in the Beijing Economic Technological Development Area. The amount of funding for the project was not disclosed.
Commenting on today’s announcement Corning’s Chief Executive Officer for Greater China, Clark S. Kinlin said, “I want to extend my sincere thanks and gratitude to the municipalities and authorities that we had the opportunity to work with during the selection process. As we have said many times, Corning is fully committed to the LCD industry in China and to growing with our customers in this important region of the world market. Today’s announcement is further proof of that commitment.”
“We are pleased that we are able to make this announcement today,” said Nitin S. Kulkarni, president of Corning Display Technologies, China. “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.”
Historically, Corning has been first in the LCD-producing regions in which the company operates; beginning with glass finishing and then assessing the need for other operations at a later date, based on market and customer demand. With its facility in China Corning is continuing its proven, strategic approach to developing new markets.