U.S. glass producer Corning intends to pump $1.5 billion into increasing Samsung product supply capacity, specifically focusing on the ultrathin, pliant glass used in Samsung Electronics’ foldable smartphones.

Corning CEO Wendell Weeks announced the Samsung investment at a 50th anniversary ceremony commemorating the company’s entry to South Korea.

Corning has had a long and fruitful partnership with Samsung starting back in 1973, and in 2014, the company further supported Samsung by buying a stake in a joint venture between both companies.

Over the years, the glass producer has further aided Samsung by adapting to meet industry trends such as developing liquid crystal displays and also glass for its OLED panels.

Samsung Chairman Lee Jae-yong commended Corning during the ceremony for supporting Samsung throughout five decades and aiding the South Korean company to eventually become the global leader in the major appliance and consumer electronics space it is today.