Corning and Samsung Sign $600m Deal to Make LCD Glass in China

Samsung has signed a $600m deal with glass blower Corning to produce thin film transistor (TFT) LCD glass substrates in China.

Corning, which in the past few years has reinvented its brand via the development of Gorilla Glass found on Apple’s iPhone and many other smartphones and tablets, has now signed a multi-year deal with Samsung to produce TFT LCD glass substrate.

The two companies will spend $600m to build a plant in China, with production expected to kick off by the end of 2013.

According to the reports from Corning, Samsung will not forget about their LCD plants back in Korea. It was confirmed by the two firms that they will simply shift supply from Samsung’s Korean plant to the new Chinese facility in order to meet local demands.

President of Corning Glass Technologies, James Clappin said they are shifting a portion of Samsung Corning Precision Materials capacity inKoreato a new facility in China.

He went on to say that this will enable them to provide outstanding local supply in support of Samsung’s new panel-making operations inChina.

Corning has given hints that its plant inChinawill be used to make glass substrate for televisions rather than smartphone or tablet screens.

The chairman, CEO and president of Corning, Wendell Weeks said that the strength and success of their ties are built on Corning’s ability to develop and make higher end glass with the key attributes that support Samsung’s business.

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