Corning to Invest US$800 Million in LCD Plant in China
July 23, 2010
US
LCD (Liquid Crystal Display) glass manufacturer Corning announced the
construction of a new LCD factory, to be located in Beijing, China, in order to
tap the surging demand for LCD panels, according to a July 21, 2010 report by Associated Press. The investment project is reported to involve around
US$800 million. Factory construction is scheduled to start in September this
year, and production is slated for the first half of 2012. Corning estimated
that the Chinese LCD TV market will grow by 32% in 2010, reaching an overall
market volume of 37 million LCD TVs sold, according to the Associated Press
report.