Taipei, Jan. 11 (CNA) Corning Display Technologies Taiwan reinforced its dominance in the liquid-crystal display (LCD) glass substrate global market as its NT$ 48 billion Taichung plant opened Wednesday in the central city of Taichung.
Located in Taichung Science Park, the plant is Corning's second facility in Taiwan and was built in 17 months. Corning's first plant in Taiwan is located in the southern city of Tainan.
"With the help of the Taiwan government and the completion of Taichung plant -- the world's biggest LCD glass substrate plant -- Corning Inc. hopes to create a mutually benefited win-win relationship with Taiwan and maintain the development of the TFT-LCD (Thin Film Transistor-LCD) sector in Taiwan, " said Eugene Verdon, President of Corning Display Technologies Taiwan, in the opening ceremony.
Vice Premier of the Executive Yuan Wu Rong-i said he hoped Taiwan, currently No. 2 in the global market share, can replace South Korea in the future as the world's biggest supplier of glass substrate. Wu guaranteed that Taiwan's government would provide any assistance needed to achieve this goal.
Listed by the Industrial Development & Investment Center (IDIC) of the Ministry of Economic Affairs (MOEA) as one of the most successful foreign enterprises in Taiwan, Corning started its investment in Taiwan in 1971 in a joint venture project.
Over the next 30 years, Corning increased its operation and investment and helped Taiwan in the areas of spectacles, optics, special semiconductors and optical communications. Best known for its kitchenware, Corning sold the kitchenware division in 1998 and focused on transforming itself into a high-tech company.
In 1999, Corning built a factory in the Tainan Science Based Industrial Park, which was the first factory for the production of substrate materials used in the manufacturing of TFT-LCDs.
Corning was founded in 1851. Headquartered in New York, USA, it has 22,000 employees in some 70 operating locations all over the world and ranks among the Fortune 500 companies. Under the Corning banner there are 7 major business divisions: optical fiber, optical cable, optoelectronics, frequency control devices, environmental protection technology, biotechnology, and display technology.
In 1880 Corning provided the Edison Electric Company with the glass material for the first light bulb.
Corning Display Technologies Taiwan is the local affiliate of the US-based Corning Incorporated.