Corning expands production in Shanghai
Updated: 2012-05-15 15:25
By Chen Qide in Shanghai (chinadaily.com.cn)
|
||||||||
Corning Incorporated broke ground for the $170 million fourth phase of its wholly-owned automotive substrate facility in Shanghai on Tuesday to meet the growing demand of domestic and overseas markets.
The project is expected to be completed in 2013 with a considerable part of its products to be sold in the Chinese market and the remainder elsewhere in Asia, said Tom Lynch, general manager of Corning Shanghai Co Ltd.
The groundbreaking event also celebrated the completion of the facility's $125 million third phase expansion, which will reinforce Corning's supply of ceramic substrates for the Chinese market.
The company first phase began operations in 2001 to provide advanced emissions control substrate technology and engineering services to automotive customers in China and Asia.
"Today's groundbreaking event is another milestone in Corning's longstanding support of China's economic growth," said Wendell Weeks, chairman, chief executive officer and president of Corning Inc.
"These expansions underscore the speed at which China's auto industry is growing and also demonstrate Corning's commitment to grow with its customers," Weeks said.
Local insiders said China now leads the world in both auto production and vehicle sales. This market growth, coupled with tighter regulations, will drive increased demand for Corning's state-of-the-art emissions-control products.
"Our further investment in this facility will surely help us better serve our customers here in the region and around the world," Lynch said.
Corning is a leading supplier of advanced catalytic converter substrates and particulate filters, supplying the world's major manufacturers of gasoline and diesel engines and vehicles.
"We are considering launching a project in China to manufacture products for diesel vehicles. Efforts are being made to seek a suitable venue for the project," said Lynch.
chenqide@chinadaily.com.cn
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |