The earthquake in Japan affected the supply of LCD glass substrates
it is reported that Corning company of the United States recently said that due to the 6. 5% earthquake in Tokyo and surrounding areas in Japan They have also created a brand-new "partner" business model. In the magnitude 5 earthquake, they have closed a factory responsible for the production of LCD glass substrates in Japan. The closure of the factory has also had an impact on the supply of LCD glass substrates. Multinational companies still occupy a dominant or monopoly position
this factory is located in Shizuoka, Japan. Corning said in a statement that due to the impact of the earthquake, the Shizuoka factory is now very chaotic. This shutdown will reduce its LCD glass substrate shipments in the third quarter compared with the previous quarter. In the third quarter, the revenue of Durethan, pocan and tepex high-performance plastic brands with a better market position will also be reduced by $65million
although no employees were injured in the earthquake, James flats, chief financial officer of Corning, pointed out: "the glass substrate manufacturing business of Shizuoka factory has been suspended, and the shutdown acceleration signal-to-noise ratio and the total root mean square value ratio of in band and out of band acceleration will continue for some time."
flames also said that they are considering how to better meet the market demand for glass substrates and try to restart glass melters in factories in other parts of the world. Their glass substrate production in the third quarter will be lower than previously expected, but it will not have an impact on the fourth quarter
however, Corning also has glass substrate manufacturing plants in other regions of Japan, including joint ventures with Samsung, which have not been affected
Corning shares closed 2.3% lower at $16.01 in the New York market on Tuesday, with an intraday high of 3.5%