February 3, 2012 – BUSINESS WIRE — Corning Incorporated (NYSE:GLW), Samsung Corning Precision Materials Co., Ltd. (SCP), and the AMLCD division of Samsung Electronics Co., Ltd. (SEC) renewed, for five more years, the two main agreements for their businesses.
Corning Incorporated and SCP signed a five-year renewal of Corning’s technology license agreement with SCP. This license agreement was effective beginning in January, 2012 and continues the 17-year equity venture’s position as a leading supplier of glass substrates to Korea’s liquid crystal display (LCD) industry. Samsung Corning Precision Materials is a highly successful equity company formed by Corning and Samsung in 1995.
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Also effective in January, SCP and SEC signed a five-year renewal of SCP’s long term supply agreement with SEC. Samsung Corning Precision Materials is the majority supplier of the award-winning Corning EAGLE XG glass to SEC. Samsung Corning Precision Materials 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, 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,” Clappin stated.
Corning Incorporated provides specialty glass and ceramics. Go to www.corning.com.