Corning and SCP Renew Agreements
Corning Inc., Samsung Corning Precision Materials Co., Ltd. (SCP), and the AMLCD division of Samsung Electronics Co., Ltd. (SEC) recently announced they have renewed the two main agreements for their businesses for five more years. Corning and SCP signed a five-year renewal of Corning’s technology license agreement with SCP. This license agreement became effective in January and continues the 17-year equity venture’s position as a leading supplier of glass substrates to Korea’s LCD industry. SCP is an equity company formed by Corning and Samsung in 1995.
Also effective in January, SCP and SEC signed a five-year renewal of SCP’s long-term supply agreement with SEC. SCP is the majority supplier of Corning EAGLE XG® glass to SEC. SCP also supplies LCD substrates to other display manufacturers in Korea.
“Samsung Corning Precision Materials remains a leading supplier of high-quality glass substrates for some of the largest LCD manufacturers in the industry,” said James P. Clappin, president of Corning Glass Technologies. “This licensing agreement renews Corning’s foundational support, providing SCP with our industry-leading technology and glass science for panel makers in Korea. We look forward to helping SCP provide Samsung and other customers in Korea with the advanced LCD glass needed for their next-generation consumer electronics.”
For more information, visit www.corning.com.