China's SEG Samsung Glass to invest 27.6 mln usd in STN-ITO glass project

Shenzhen SEG Samsung Glass Co Ltd (SZA 000068) said it will invest 27.6 mln usd in a project to produce STN-ITO glass, a component in flat panel displays.

The annual capacity of the project is expected to reach seven mln units, the company said.

SEG Samsung plans to spend 13 mln usd to purchase production technology and equipment for the project from Samsung Corning Co Ltd, a joint venture between Korea's Samsung Group and US-based Corning Inc.

Samsung Corning Investment Co Ltd, a unit of Samsung Corning Co Ltd, holds a 21.37 pct stake in SEG Samsung.

Samsung Group has a technological co-operation agreement with SEG Samsung, but holds no stake in the company.

The company said the project is still pending approval from shareholders.

600450 China's SEG Samsung Glass to invest 27.6 mln usd in STN-ITO glass project
Date: 6 March 2006

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