Specialty glass maker Corning Inc said on Monday a weekend power disruption at its plant in Taichung, Taiwan, will hurt glass production in the fourth quarter.
Corning, the largest maker of glass for liquid crystal display screens, said the event affected some of its glass-making operations. As a result, it now sees volume in the fourth-quarter as flat to down slightly from the third quarter.
Without the disruption, glass volume would have increased by as much as 5 percent, Corning said.
The majority of our Taichung glass production continues to operate normally, said Corning chief financial officer James Flaws in a statement. However the power disruption caused the shutdown of several of our glass melting tanks.
We are in the process of determining how much glass melting capacity was affected, the time to repair the tanks, and the impact on our glass volume available for customers, he said.
Shares of Corning fell nearly 3 percent in premarket trading, but were off only 1 cent in early New York Stock Exchange dealings at about $15.36.
(Reporting by Franklin Paul, editing by Gerald E. McCormick)