Corning Incorporated will decommission display glass manufacturing assets at its Shizuoka (SK) liquid crystal display (LCD) glass substrate facility by year end 2020 to ensure its operations are aligned with the display industry’s current business environment.
Corning will idle the SK plant’s glass production lines later this year. The company’s LCD glass production will be redeployed to Corning’s other manufacturing facilities.
“These actions were driven by the changing display landscape, including flat to decreasing demand from Japan panel makers, and growing demand from panel makers in other regions, requiring our resources,” said Thomas H. Lynch, General Manager, Corning Display Technologies (CDT). “While Corning remains firmly committed to the Japanese display industry and to ongoing collaboration with our customers, we must take these difficult actions to remain competitive.”
Corning will cease manufacturing operations at the SK plant in 2020, but parts of the facility will remain in use for Corning Display Technologies logistics and manufacturing organizations, as well as for the site’s Corning Technology Center.
The company will offer SK employees job transfer opportunities for initiatives within the business, including moves to the Sakai City facility, or voluntary separation packages.
For a complete listing of risks and other factors, please reference the risk factors and forward-looking statements described in our annual reports on Form 10-K and quarterly reports on Form 10-Q. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
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.
