Paju Electric Glass Co., Ltd. (PEG), a back-end glass polishing and processing joint venture between LG.Philips LCD and Nippon Electric Glass, held a groundbreaking ceremony on 22 August 2005 to mark …
Paju Electric Glass Co., Ltd. (PEG), a back-end glass polishing and processing joint venture between LG.Philips LCD and Nippon Electric Glass, held a groundbreaking ceremony on 22 August 2005 to mark the beginning of construction of its plant in the Paju Display Cluster in Gyeonggi Province, South Korea. Paju Electric Glass, which is 40% owned by LG.Philips LCD and 60% owned by Nippon Electric Glass, was incorporated in March 2005 with initial paid in capital of KRW 36 billion. The plant is set to commence production in the 1H of 2006, with one production line and a design input capacity of 60,000 sheets. However, capacity could increase with the addition of further lines depending on market demand. Paju Electric Glass will provide “P7,” LG.Philips LCD“s Gen 7 factory that is set to begin mass production in the 1H of 2006, with a stable supply of glass substrates, a core component of LCD panels. Meanwhile, Nippon Electric Glass will benefit from stable demand for its glass products. Commenting on the groundbreaking ceremony, Vice President Gye-Jin Bang of Paju Electric Glass said “We take great pride in becoming part of the world“s largest display cluster. We are determined to do our best to maximize the positive impact of this win-win partnership between LG.Philips LCD and Nippon Electric Glass.” The ceremony, which was held at Dangdong district, one of two industrial parks being constructed for LG.Philips LCD“s suppliers as part of the Paju Display Cluster, was attended by President Ando Masaaki of Paju Electric Glass, LG.Philips LCD Vice Chairman and CEO Bon Joon Koo and other LG.Philips LCD executives, as well as by President Yuzo Izutsu and other executives from Nippon Electric Glass, Governor Hak-Kyu Sohn of Gyeonggi Province and Mayor Hwa-Sun Ryoo of Paju City.