Corning denies report of Chinese LCD plant

Corning Inc. has denied a Chinese media report that said it will begin building an LCD substrate plant on the Chinese mainland in 2006.
The Shanghai Daily reported on its website on 11 January 2005 t…

Corning Inc. has denied a Chinese media report that said it will begin building an LCD substrate plant on the Chinese mainland in 2006. The Shanghai Daily reported on its website on 11 January 2005 that a site for the factory, which will cost more than USD 1 billion, will be chosen by March 2006. However, Corning Inc. disputed the veracity of the report and said it contains inaccuracies. The newspaper quoted Lydia Lu, Corning China“s spokesperson in Shanghai. “We have focused on two candidate locations, and if everything goes on schedule, we will announce the investment project as early as March,” Lu said. Lu said the plant will be sited either in the Yangtze River Delta or in North China. Both locations are near major Chinese LCD manufacturers, SVA NEC and BOE Technologies. Corning Inc. spokesman Dan Collins said the report is inaccurate. “It“s not true”, Collins said. “We are actively thinking about this, but we have not made a decision on a location or whether we will do it or not. We haven“t even brought this before the board of directors”. Collins said he has no idea where the figure of USD 1 billion came from. “We will start very small,” he said. “We“ve said repeatedly that it“s likely we will go to China with our LCD business when and if it begins to expand there. Clearly it is beginning to expand there, and we are continuing to monitor the situation.” Corning Inc. has LCD substrate manufacturing plants in Kentucky, Taiwan, South Korea and Japan. But China is expected to become an increasingly important market for Corning in the next decade. Sales of liquid crystal display televisions in China are expected to reach 3 million units in 2006, the Shanghai Daily said. Worldwide, sales of LCD televisions are expected to rise to 17.10 million units in 2009 from 8.9 million units in 2004, according to US research firm iSuppli.