Corning Announces Long-Term Supply Agreement With AUO
March 21, 2005
Corning Inc. has announced the execution of a long-term purchase and supply agreement for large-size liquid crystal display (LCD) glass substrates with AU Optronics Corp. (AUO). Under the agreement, Corning Display Technologies Taiwan Co. Ltd. will supply significant quantities of Generation 6 LCD glass to AUO for its new LCD fabrication facility in Taichung, Taiwan. As part of the agreement, AUO will prepay Corning in several installments, and AUO will be able to use the installments in the form of credits against future glass purchases over the life of the contract. "This agreement exemplifies the solid relationship that AUO and Corning have forged from the beginning of Taiwan's LCD industry. Both companies win by sharing a clear line of sight into our mutual supply and demand needs for Generation 6 substrates. AUO is assured of an ongoing supply of premium quality LCD glass to meet its customer requirements," said James P. Clappin, general manager of Corning's Display Technologies business and president of Display Technologies Asia.
For more information, visit http://www.corning.com.