Corning halts production at some plants in Taiwan

Nov. 14, 2008 (China Knowledge) - Corning Incorporated (Corning), the world's largest supplier of glass for LCDs, has halted production at some of its plants in central Taiwan for maintenance, sources reported on Thursday, citing an unidentified company executive.

The production halt can be largely blamed for a lower demand of liquid crystal display (LCD), and the slowdown in its LCD glass business is likely to be extend into the first quarter of next year, according to sources.

The U.S.-based Corning, the world leader in specialty glass and ceramics, announced last month its third-quarter profit jumped 24% despite flat sales. However, the company also warned that the slowing demand for flat-screen televisions would sharply erode sales and income in the fourth quarter of this year.