- Corning's (GLW +0.6%) Singapore unit and Irico Display Devices (OTC:IRCRF) are planning a joint venture to produce TFT-LCD glass substrate.
- A filing to the Shanghai exchange details the plans, in which Irico will take a 51% stake with $10.2M contributed, while Corning will hold 49% with $9.8M.
- The eventual $60M venture will kick off operation in August.
- Source: Bloomberg