Corning Incorporated (NYSE:GLW) hosted a launch ceremony for its new Gen 10.5 liquid crystal display (LCD) glass substrate manufacturing facility co-located with the BOE Technology Group Co. Ltd. (BOE) plant in the Hefei Xinzhan Hi-Tech Industrial Development Zone in the Anhui Province, China.
This new facility will enable Corning to become the first manufacturer of TFT- grade Gen 10.5 substrates in the world. The largest LCD commercially available glass substrates are 2,940 mm by 3,370 mm, providing the most economical cuts for 65-inch and 75-inch TVs. The Gen 10.5 substrates manufactured at the Hefei facility use Corning® EAGLE XG® Slim glass.
Corning began shipping BOE production samples from the plant in late 2017. The market for large-size TVs, defined as TVs 60″ and larger, is projected to grow at a compound annual growth rate of more than 20 percent for the next several years. The Hefei facility is Corning’s third LCD glass plant on the Chinese mainland. The company also operates Gen 8.5 LCD glass plants in Beijing and Chongqing.
“The Hefei Gen 10.5 LCD glass facility is the next milestone in the display business, enabling us to make the world’s largest glass substrate to support the growing global demand for large size TVs,” said James P. Clappin, president of Corning Glass Technologies, at the launch ceremony. “As the industry’s innovation and market leader with the most experience in large Gen substrate production, we’re proud to support the development of China’s LCD industry.”
“We’re delighted to bring the world’s best-in-class Gen 10.5 substrate technology to China in support of the continued growth of the LCD industry and in support of BOE, our valued strategic customer,” commented John Zhang, general manager of Corning Display Technologies at the event. “This plant allows us to deliver on our long-term commitment to BOE and participate in the fastest-growing LCD market in the world while maintaining our overall LCD glass supply demand balance.”
In December 2015, with the support of the Hefei municipal government and other local officials, Corning announced its plans to invest in a new LCD glass facility in the Hefei Xinzhan Hi-Tech Industrial Development Zone in the Anhui Province, China.
Commenting on today’s announcement, Li Fang, president and general manager of Corning Greater China, said, “A combination of critical factors made Hefei the ideal location for this Gen 10.5 plant. The strong government backing, and a skilled local talent base, were supplemented by the area’s excellent infrastructure. We appreciate the support we have received from the Hefei municipal government and the industrial development leadership from Anhui provincial officials.”
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About Corning Incorporated
Corning (www.corning.com) is one of the world’s leading innovators in materials science, with a more than 165-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people’s lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries.
Corning’s capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning’s markets include optical communications, mobile consumer electronics, display technology, automotive, and life sciences vessels. Corning’s industry-leading products include damage-resistant cover glass for mobile devices; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for state-of-the-art communications networks; trusted products to accelerate drug discovery and delivery; and clean-air technologies for cars and trucks.
