Schott, Zhejiang Crystal-Optech and T.Best are to form a joint venture
Schott is strengthening its footprint in Asia with further investments. The new joint venture company – Zhejiang Crystal- Schott Optical Technology Co., Ltd. – connects Schott’s leadership in optical materials and thin glass with the outstanding processing and coating expertise of its Chinese partner Crystal-Optech and T.Best.
International technology group Schott AG, part of Carl Zeiss foundation, and Zhejiang Crystal-Optech Co., Ltd. together with its subsidiary Zhejiang T.Best Electronic Information Technology Co., Ltd have signed a contract to form a joint venture. The joint venture company, Zhejiang Crystal- Schott Optical Technology Co., Ltd., will be part of Schott’s Advanced Optics business unit. After the approval from antitrust authorities, it will focus on developing and manufacturing high-end optical components for various applications. Customers will profit from the unique combination of Schott’s 133-year leadership in optical materials and its Chinese partners’ world-class excellence in components manufacturing for optical, optoelectronic and semiconductor applications. Schott will supply its optical glass and thin glass products – the joint venture will assemble these materials into high-quality glass substrates and glass wafers with outstanding optical performances and optimized geometrical properties.
“We are delighted to announce further investments in China, a focus region for Schott. Jointly with our strong and valued partners, Crystal-Optech and T.Best, we will grow the joint venture company to be a major player serving the Chinese, Asia-Pacific and Western markets”, said Dr. Frank Heinricht, Chairman of the Board, Schott. “In its strategy to manufacture the highest quality substrates and wafers, the joint venture can rely on Schott’s core expertise in mass manufacturing of optical glass and thin glass here in Germany.”
By enhancing its glass processing capacity and capabilities in China, Schott strengthens its overall position leveraging its worldwide market presence to be close to customers and application expertise.
The joint venture’s production will be set up on Crystal-Optech’s new production campus in Taizhou city, Zhejiang province. It is expected to quickly grow to several hundred employees.