New manufacturing capacity will allow Corning to meet increased regional and global demand for high-quality glass tubing
Corning Incorporated (NYSE: GLW) today announced a joint venture (JV) agreement with Bengbu Innovation Venture Capital Co. Ltd. in Bengbu, China. The new company, Corning Pharmaceutical Glass Co., Ltd., will be part of Corning Pharmaceutical Technologies’ business portfolio.
Amid increased COVID-19-related demand, this public-private partnership enhances Corning’s glass packaging manufacturing capacity and capabilities and further strengthens the company’s ability to meet both regional and global customer demand.
The JV will focus on construction of a state-of-the-art manufacturing facility in Bengbu, located in the Anhui Province of China. The new facility will enable the manufacturing of 20,000 tons annually of high-quality borosilicate glass tubing for the global pharmaceutical packaging market.
“It is exciting to see that Corning announced construction of a first-class pharmaceutical glass manufacturing facility in China. The localized production capacity will greatly help to better serve Chinese customers’ growing demand of more cost effective and high-quality Type I borosilicate glass tubing and promote the upgrade of the pharmaceutical glass industry. The stable supply of Type I glass will facilitate the government’s call for consistent evaluation of generic drugs and patient safety,” said Dr. Tu Jiasheng, Director of Expert Committee of Pharmaceutical Excipient and Container of CHP (Chinese Pharmacopoeia Commission).
Production is expected to begin in the third quarter of 2021 and is projected to bring approximately 200 jobs to the local Bengbu area.
“The pharmaceutical market in China is undergoing a period of unprecedented innovation and growth. Corning is delighted to partner with the Bengbu Innovation Venture Capital Co. Ltd. to ensure supply of high-quality pharmaceutical glass in China. This new facility builds on Corning’s long history of manufacturing in the region and underscores our commitment to innovation and growth in the pharmaceutical and life science market,” said Ron Verkleeren, senior vice president and general manager, Corning Life Sciences.
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Corning (www.corning.com) is one of the world's leading innovators in materials science, with a 169-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include mobile consumer electronics, optical communications, automotive technologies, life sciences technologies, and display technologies.