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Technology Stocks : Research Frontiers (REFR)
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From: JoAnnBarbour7/19/2019 2:15:16 PM
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From the July 9th, 2019 press release from Corning. .

July 09, 2019 22:00 ET | Source: Corning Incorporated

HEFEI, China and CORNING, N.Y., July 09, 2019 (GLOBE NEWSWIRE) -- Corning Incorporated (NYSE: GLW) today hosted an opening ceremony for its new Automotive Glass Solutions facility in the Hefei Xinzhan Hi-Tech Industrial Development Zone in Anhui province, China.

This high-volume manufacturing facility will enable Corning to deliver AutoGrade™ Gorilla Glass parts for Automotive Interiors directly to automakers around the world as they incorporate more displays and more technical glass into their vehicle designs. Introduced earlier this year, AutoGrade™ cover glass parts widen the window to reliably and economically enable next-generation automotive designs, led by consumer demand for more in-vehicle connectivity and immersive driving environments. This milestone builds on the company’s decades-long leadership in the display, mobile consumer electronics, and automotive markets.

“Our AutoGrade cover-glass solutions help auto designers achieve their vision for next-generation car interiors with more glass, more form, and more function. Carmakers worldwide are designing our technical glass solutions into their vehicles,” said Michael Kunigonis, vice president and general manager, Corning Automotive Glass Solutions. “We’re ramping capacity to service a growing pipeline of project awards worth hundreds of millions of dollars. We’re excited to extend our capability to this growing market with our new facility.”

With designs evolving to incorporate larger, curved, and higher-resolution automotive displays, there is an increased demand for technical glass developed to withstand rigorous automotive industry standards while delivering smartphone sophistication. This new facility supports the company in its goal to double sales to the automotive market, as outlined in Corning’s newly announced Strategy and Growth Framework.

“This new facility in Hefei will be vital to our goals of meeting automotive interior trend demands and doubling market sales by 2023,” said Kunigonis. “We will begin fulfilling customer orders from our high-volume facility in Q3 2019, offering the best product performance with the best service and best economics.”

In July 2018, with the support of the Hefei government, Corning Automotive Glass Solutions announced plans to invest in a new manufacturing facility marking the company’s third in Hefei within the past four years. Corning Environmental Technologies recently announced the opening of a new emissions control facility focused on its gasoline particulate filter product line, and Corning Display Technologies opened the world’s first Gen 10.5 LCD glass substrate facility to supply BOE, China’s leading panel maker, last year.

“Today’s event for Corning Automotive Glass Solutions reaffirm our commitment to the China auto market,” said Li Fang, president and general manager, Corning Greater China. “We appreciate the support we’ve received from the Hefei municipal gove
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