September 20, 2004 – Corning Inc.’s executives broke ground yesterday on the site of a new glass-substrate factory in the Central Taiwan Science Park as scheduled, according to the Financial Times Information Ltd.
The central Taiwan factory, which is scheduled to kick off production in the 3Q05, is Corning’s second of its kind in Taiwan. The other one is operating in the Southern Taiwan Science Park.
According to Corning executives, the company has injected a total of US$1.53 billion into expansions at factories in Taiwan and Japan over the past few years, with US$180 million spent on expansion at the factory in southern Taiwan, US$600 million on the southern Taiwan factory and Japan factory and US$750 million on the central Taiwan factory.
Throughout this year, Corning has planned to invest US$800 million in substrate-capacity expansions, according to Donald McNaughton, Coring’s senior VP.