25 March 1999: Japan“s Kobe Steel Ltd. and Nippon Sheet Glass Co Ltd. announced that they plan to set up a joint venture in Malaysia to produce glass substrates used in hard disk drives.
The fifty-f…
25 March 1999: Japan“s Kobe Steel Ltd. and Nippon Sheet Glass Co Ltd. announced that they plan to set up a joint venture in Malaysia to produce glass substrates used in hard disk drives. The fifty-fifty venture, Advanced Disk Technology Sdn Bhd (ADT), would be established in April and is due to start production in December this year, they said in a joint statement. The new company will be capitalized at 1.5 billion yen and the initial investment will total an estimated three billion yen, the statement said. The venture is expected to employ about 400 workers as of March 2000. ADT will produce and market 3.5 inch glass substrates to hard disk drive makers, which will process them into storage disks used in hard drives. By June 2000, ADT will have a production capacity of two million substates per month. The venture is expected to generate sales of six billion yen in the 2000/01 business year, the companies said.