Corning aims for China growth

Aiming to capitalize on its sales of glass used in LCD panels for computer monitors and flat-screen televisions, Corning Inc said it is targeting for its China sales this year to grow at two to three times the rate of the Chinese economy, Reuters reported, citing Corning Greater China Chief Executive Clark Kinlin. With the Chinese economy expected to grow by more than 9% this year, Corning's target would translate to an 18% or greater growth rate. Kinlin declined to specify Corning's China sales last year, but in 2003 its China sales reached about US$134 million. Corning, which produces half of all LCD glass worldwide, is also considering investing in a glass-making facility in China where the LCD panel industry is growing rapidly.