Nippon Electric Glass Co. intends to invest a total of JPY 5 billion to set up production lines to turn out glass used for liquid crystal displays in both South Korea and Taiwan to meet rising local d…
Nippon Electric Glass Co. intends to invest a total of JPY 5 billion to set up production lines to turn out glass used for liquid crystal displays in both South Korea and Taiwan to meet rising local demand, The Nihon Keizai Shimbun reported. The production facilities, to be built by the end of 2002, are expected to generate combined sales of JPY 12 billion in the first year. In Taiwan, Nippon Electric will set up a wholly owned subsidiary for the project. It has already acquired a 23,000-sq.-meter site, for a plant with annual output capacity of 600,000 sq. meters of the glass. Total investment there will be 2JPY -3 billion, including the cost of purchasing the land. In South Korea, the firm will set up a joint venture with a local concern. The venture will operate a factory in the central part of the country, near a plant owned by major client LG. Philips LCD.