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Company : Business Wire 
Thursday, September 16, 2004 8:52AM IST (3:22AM GMT)
 
( BW)(NY-CORNING)(GLW)
Corning Breaks Ground at Taichung LCD Glass Manufacturing Site
Corning, New York, United States

Corning Incorporated (NYSE:GLW)will host a groundbreaking ceremony today at the site of its new liquid crystal display (LCD) glass substrate manufacturing facility being constructed at the Central Taiwan Science Park in Taichung, Taiwan. Joined by customers and government officials, Corning will mark the commencement of construction on its second Taiwan facility.

This new operation is expected to begin initial manufacturing in Taichung during the third quarter of 2005, with additional capacity to come online through 2006. The first phase of the Taichung facility was part of a company funded investment of nearly $750 million, announced in July of this year, and will include melting and finishing capacity capable of producing Generation 5.5 and Generation 6 size glass substrates.

Joining Corning for the ceremony today, to discuss the contribution that Corning Display Technologies Taiwan Co. Ltd., a wholly owned subsidiary of Corning Incorporated has made to the region and the future collaboration, will be Mr. Sin-Yi Lin, former vice premier, Executive Yuan; Ms. Mei-Yueh Ho, minister, Ministry of Economic Affairs; and Mr. Jason Hu, mayor, Taichung City.

"This ceremony marks Corning's unwavering commitment to supporting the growth of our customers in Taiwan," Donald B. McNaughton, senior vice president, Display will say. "Our new Taichung facility will continue to strengthen our reliable local supply of large generation glass substrates for the growing display industry."

James P. Clappin, general manager, Corning Display Technologies, will reaffirm the company's commitment to the region and the industry."The industry is migrating toward the use of larger-generation glass substrates. With this additional site, Corning expects to be in step with our customers here in Taiwan and on a world wide basis, effectively utilizing our technology, processes and people to support the production of high-quality LCDs," Clappin remarked.

In conjunction with its continued development in Taiwan, Corning expects to hire and train hundreds of local engineers, skilled technical workers, and commercial staff for its two LCD glass manufacturing operations on the island. Individuals interested in pursuing an opportunity with Corning Display Technologies in Taiwan should visit Corning's regional web site at www.corning.com.tw.Details on the company's growth businesses including display glass and telecommunications, as well as its history of over 150 years of life-changing innovation can be found at the company's global site at www.corning.com.

About Corning Incorporated

Corning Incorporated (www.corning.com) is a diversified technology company that concentrates its efforts on high-impact growth opportunities. Corning combines its expertise in specialty glass, ceramic materials, polymers and the manipulation of the properties of light, with strong process and manufacturing capabilities to develop, engineer and commercialize significant innovative products for the telecommunications, flat panel display, environmental, semiconductor, and life sciences industries.

Forward-Looking and Cautionary Statements

This press release contains forward-looking statements that involve a variety of business risks and other uncertainties that could cause actual results to differ materially. These risks and uncertainties include the possibility of changes or fluctuations in global economic and political conditions; tariffs, import duties and currency fluctuations; product demand and industry capacity; competitive products and pricing; manufacturing efficiencies; cost reductions; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; capital spending by larger customers in the liquid crystal display industry and other businesses; changes in the mix of sales between premium and non-premium products; facility expansions and new plant start-up costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political instability or major health concerns; ability to obtain financing and capital on commercially reasonable terms; adequacy and availability of insurance; capital resource and cash flow activities; capital spending; equity company activities; interest costs; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; changes in key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are identified in Corning's filings with the Securities and Exchange Commission.Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.

 
 
 
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