Nippon Sheet Glass Buys Applied Films China Sales Rights

Japan's Nippon Sheet Glass Co. Ltd. (J.NSG or 5202) said Monday it has agreed to buy sales rights for small liquid crystal displays from a Hong Kong subsidiary of Applied Films Corp. (AFCO), a U.S. thin-film coated glass maker, for $1.2 million.

The rights cover technologies such as 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.

With the move, the Japanese company will be able to directly sell coated glass substrates in southern China and Hong Kong. Nippon Sheet Glass currently ships glass substrates products from Japan to markets around the world.

A Nippon Sheet Glass spokesman said the purchase won't affect its earnings outlook for the year ending March, 2004.

Nippon Sheet Glass and Applied Films set up in 1998 a 50-50 joint venture, Suzhou NSG AFC Thin-films Electronics Co. Ltd. (STEC), for the manufacture of coated glass substrates.

The sales rights purchase doesn't change the two companies' ownership stakes in STEC, the spokesman added

600450 Nippon Sheet Glass Buys Applied Films China Sales Rights

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