CORNING, N.Y., May 12, 2021 (GLOBE NEWSWIRE) -- Corning Incorporated (NYSE: GLW) today hosted an opening ceremony for its Gen 10.5 liquid crystal display (LCD) glass substrate manufacturing facility in the city of Wuhan in the Hubei Province, China. The facility is co-located with a BOE Technology Group Co., Ltd. (BOE) plant. With the successful operation of the plant, and the easing of restrictions in the region, Corning is commemorating this important step in building its presence in China and strengthening its relationship with an industry leader.
This high-volume manufacturing facility allows Corning to deliver Gen 10.5 glass substrates, measuring approximately 3 meters wide by 3 meters high, directly to BOE for its production of large-size display panels. Gen 10.5 glass provides the most economical cuts for 65- and 75-inch TVs, which are expected to drive display-glass market growth over the next several years. The market for large-size TVs, defined as 65-inch and larger, is projected to grow at a double-digit compounded annual growth rate though 2024.
“Our decade of experience in G10+ glass manufacturing enabled us to apply the learnings and the technical know-how necessary to ramp this facility rapidly, even during the most challenging of times. Today’s celebration is a testament to our deep commitment to support customer demand while ensuring the safety and health of our employees,” said Chris Hudson, international division vice president and general manager, Corning Display Technologies China.
Corning began shipping production samples from the Wuhan plant in January of 2020 and achieved finishing line mass production by mid-2020, despite pandemic-related challenges. The Wuhan manufacturing facility is Corning’s sixth LCD glass plant on the Chinese mainland and its second Gen 10.5 facility along with the company’s Hefei plant in the Anhui Province, which opened in 2018.
John Zhang, senior vice president and general manager, Corning Display, said, “Our Wuhan plant is the most recent demonstration of Corning’s commitment to China’s display industry. We appreciate the support we have received from the Dongxihu District, Wuhan municipal, and Hubei provincial governments. With our advanced glass technology and skilled local talent base, we are poised to make even greater contributions to growth in the region.”
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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.
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About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science, with a 170-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, automotive, and life sciences.
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