Glass firm runs out of LCD glass

Demand for glass helped Corning make a profit in its second quarter but it warned it was running out of glass and would have to build another glass factory.The firm made net profits of $108 million on turnover of $971 million.

In the same quarter last year, it turned in a loss of $22 million.

It said in a statement that demand for the kind of glass used in LCD monitors and TV soared 80% during the second quarter.

It will build another glass factory in Taiwan but that won't be ready to roll until the end of next year.

Last week, several Taiwanese LCD firms claimed that prices couldn't fall as the market expects because there was a shortage of glass.

If it had had more glass, it would have made more of a profit. µ

600450 Glass firm runs out of LCD glass
Date: 21 July 2004

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