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Corning To Invest $600 Million In LCDs

Techweb:

Corning Inc. is making a $600 million investment in its liquid crystal display glass substrate manufacturing process to take advantage of the boom in flat-panel computer monitors and television sets.

The company said the investment will be in stages over the next 24 months at its plants in Taiwan and Japan. In a statement, the firm said: "Corning continues to believe that the annual market volume growth for LCD glass could be in the 30 percent to 50 percent range over the next several years. . . . LCD television sales reached 3 percent of the worldwide TV market in 2003, more than tripling the 2002 rate. Corning now believes that LCD-TVs may be up to 16 percent market penetration as early as 2006."

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