says it will spend another $174 million to expand its display glass manufacturing capacity in Japan.
The Corning, N.Y., tech shop is expanding its production of larger, Generation 8 sheets of liquid crystal display, or LCD, glass used in TV screens that are 40 inches or larger.
Corning also said it won a contract to supply
with its new, environmentally cleaner Eagle glass that is made without heavy metals such as arsenic.
In October, Corning allocated $425 million on the third phase of its LCD glass-manufacturing expansion in Taichung, Taiwan. Corning has spent more than $1 billion on expansion of its glassmaking capacity as flat-panel computer monitors and LCD TVs grow more popular.
Corning cautioned investors last week that the 15% growth it saw in LCD shipments in the first quarter will likely slow down in the current quarter. The company is calling for volume to remain flat or increase by 5% sequentially.
The company says it expects to start shipping the Gen 8 glass in the third quarter.
Corning shares closed down 9 cents Monday at $27.54.