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SVA Group, NEG in USD 45 million LCD joint venture

SVA Group said its unit Shanghai SVA Photoelectron Co. Ltd. will set up a USD 45.5 million TFT-LCD glass substrate joint venture with Nippon Electric Glass Co Ltd (NEG), Sumitomo Corporation and Sumit…

SVA Group said its unit Shanghai SVA Photoelectron Co. Ltd. will set up a USD 45.5 million TFT-LCD glass substrate joint venture with Nippon Electric Glass Co Ltd (NEG), Sumitomo Corporation and Sumitomo (China) Co. Ltd. In a statement, SVA said NEG will hold 65% of the joint venture, SVA Photoelectron will have 20%, and Sumitomo Corp and Sumitomo China 12.5% and 2.5% respectively. The joint venture will be located in Shanghai Zizhuang Industrial park and will have a registered capital of USD 15.5 million. It will manufacture fifth-generation TFT-LCD glass substrates, and is expected to come on stream in the 3Q 2007 with an initial monthly capacity of 140,000 units, SVA said. In April 2006,Corning Inc announced that it would locate its LCD glass substrate manufacturing plant in Beijing Economic Technological Development Area. SVA and Beijing-based BOE are China“s two main LCD panel makers. Both are clients for Corning“s glass substrates.

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