Corning and Samsung today announced the formation of a new joint venture with commitment of spending $600 million to construct a new LCD glass substrate facility in the People’s Republic of China. The new equity venture is expected to be formed later this year, subject to receipt of regulatory approvals.
The manufacturing plant will have Gen 8 (2,200 x 2,500 mm) glass-melting and finishing capability. Construction of the facility will start by the end of 2012, with production expected to begin at the end of 2013, in time to meet demand for the start-up of Samsung Suzhou LCD. This newest venture will be an extension of a decades-long alliance between Samsung and Corning.
“China’s LCD TV end market represents more than 20% of the worldwide total. Consequently, LCD panel manufacturers have been investing in China-based production,” said Donggun Park, executive vice president of Samsung Display and leader of the company’s LCD business. “Our new LCD glass venture with Corning will help enable Samsung Display to succeed in capturing a leading portion of this market through our new Samsung Suzhou LCD entity in China,” Park said.