Corning may be best known thanks to its Gorilla Glass panels, but it excels in LCD substrate research, development and manufacture as well, something that Samsung wishes to use.
The two companies have agreed to jointly build a new LCD manufacturing plant in China.
To that end, they have already signed a Memorandum of Understanding (MoU) with the government of Wuxi New District, China.
The factory will enter use in 2013, when it will make glass display substrates.
The project will eat $600 million / 496 million Euro worth of investments over the next few years.
“Corning and Samsung have had a long and successful collaboration in the display industry, dating back nearly 40 years to the early days of television,” said Wendell P. Weeks, Corning’s chairman, chief executive officer, and president.
“Together, we have led the evolution of displays, from the high-growth years of CRT, to our current successful business supplying world-leading substrates for today’s high-definition LCD TVs, and now to the launch of this important new venture in China.”