Nippon Sheet Glass acquires China sales rights from Applied Films

Japan“s Nippon Sheet Glass Co. Ltd. said 29 September 2003 it has agreed to buy the sales rights for small liquid crystal displays from a Hong Kong subsidiary of U.S. thin-film coated glass maker App…

Japan“s Nippon Sheet Glass Co. Ltd. said 29 September 2003 it has agreed to buy the sales rights for small liquid crystal displays from a Hong Kong subsidiary of U.S. thin-film coated glass maker Applied Films Corp, for USD 1.2 million. The rights cover technologies including STN (Super Twisted Nematic) liquid crystal displays and TN (Twisted Nematic) liquid crystal displays. STN LCDs are used in electronics applications such as mobile phones, while TN LCDs are used in calculators, electronic organizers and personal digital assistants. The move will allow Nippon Sheet Glass to sell coated glass substrates directly in southern China and Hong Kong. The company currently supplies glass substrate products from Japan to markets world-wide. A Nippon Sheet Glass spokesman said the purchase will not affect its earnings outlook for the year ending March 2004. Nippon Sheet Glass and Applied Films set up a 50-50 joint venture in 1998, Suzhou NSG AFC Thin-films Electronics Co. Ltd., to manufacture coated glass substrates. The sales rights purchase does not change the two companies“ ownership stakes in STEC, the spokesman added.