Build a new TFT-LCD glass making plant in China
Glassmaker Corning and Samsung have teamed up with the Wuxi New District government in China to build a $600 million facility to make TFT-LCD glass used in laptops and LCD monitors.
Apparently the equity venture of Samsung and Corning, dubbed Samsung Corning Precision Materials will shift some of its LCD glass manufacturing capacity from Korea to the new facility in China. The new joint venture in China is expected to be formed later this year, pending a final signed agreement between Corning's Singapore unit and Samsung's display business, a press release from Corning said.
Samsung and Corning have been chums for decades and will supply LCD glass substrates to Samsung Suzhou in China.