FOR IMMEDIATE RELEASE: 02/01/2021
[Blog] AGC Glass Tank Accident Impact May Extend Glass TightnessBob O'Brien, Co-Founder, Principal Analyst
Ann Arbor, MI USA -
An accident at an AGC glass plant in Korea may have only a small impact on the current shortage for display glass but is likely to extend the tightness until summer. After a tank failure at Corning and a power outage at NEG, this accident at AGC means that all three of the major display glassmakers have experienced production problems in the last six months.
DSCC sources in Asia have informed us that one of AGC’s four tanks at its site in Gumi, South Korea “exploded” last Friday. The Gumi site mainly supplies Chinese panel makers. The tank was down for cold repairs and not in production but had planned for production starting in Q2 2021. Our sources indicate that tank #4 had been out of operation for some time, but that AGC had intended to start the tank to respond to requests from clients for more glass supply. The tank planned to make G8.5 or G10.5 glass to supply to China Star and others. Since it was not currently in production, the accident will have no immediate effect on glass supply/demand balance but will extend the period of glass tightness.