Corning To Make Glass Substrates At Sharp's Plant On January

Corning Inc.'s board of directors has approved a five-year capital expenditure plan of $795 million to co-locate a glass manufacturing facility at Sharp Corp.'s plant in Sakai City, Osaka Prefecture, Japan.

The investment will be incurred over a five-year period, with an initial capital expenditure of $400 million in 2008. Glass substrate production from the new facility is expected to meet Sharp's plan to begin mass production of LCD panels for large TVs at its new fab by March 2010.

In addition, the investment will enable Corning to be the first manufacturer of TFT-grade Gen 10 substrates and the primary supplier of Sharp's Gen 10 glass needs. At 2850mm x 3050mm, Gen 10 will be the largest LCD glass substrate available. The Gen 10 substrates manufactured at this facility will use Corning's revolutionary EAGLE XG glass composition. The EAGLE XG is also touted to be the first LCD glass to contain no added metal or halides, making it environmentally friendly.

"Very large-size glass substrates offer superior economies of scale to display manufacturers, ultimately helping to make large LCD TVs more affordable for consumers," said Peter Volanakis, president and chief operating officer of Corning.

"Corning offers superior technical capabilities in the field of LCD glass substrates. The close collaboration between Sharp and Corning at our 'Manufacturing Complex for the 21st Century' can be expected to engender innovations through our combined manufacturing experience and technology," said Mikio Katayama, president and chief operating officer, Sharp.

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600450 Corning To Make Glass Substrates At Sharp's Plant On January
Date: 14 December 2007

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