Subsidiary to process glass for FPD established in Nanjing, China - To enhance production and supply in the Chinese market

Nippon Electric Glass Co., Ltd. (Head Office: Otsu, Shiga, Japan, President: Masayuki Arioka, “NEG”) has concluded an agreement with Nanjing Economic and Technological Development Zone in China for investment and construction concerning the processing and sales of glass for flat panel displays (FPD)

NEG will also launch melting and forming operations (Electric Glass (Xiamen) Co., Ltd.) in Xiamen in the latter half of 2015 and establish an integrated production system from the melting process to respond to the expanding demand for FPD glass in China. By establishing Electric Glass (Nanjing) as its third processing base in China, NEG aims to boost its processing capacity and enhance production and supply in the Chinese market.

<Outline of Business>

- Company name:  Electric Glass (Nanjing) Co., Ltd. (Planned)

- Location:  Nanjing City, Jiangsu Province, China

- Representative:  Akihisa Saeki, President (Director and Senior Vice President of NEG)

- Scope of business:  Processing and sales of glass for FPDs

- Registered capital Approximately 1.8 billion yen

- Date of establishment:  March 2015 (planned)

- Capital investment:  Approximately 5.0 billion yen (including equipment to be relocated)

- Commencement of operations:  2nd quarter of FY 2016 (planned)

- Outlook:  Sales of the new company in FY 2017: approximately 13.0 billion yen

600450 Subsidiary to process glass for FPD established in Nanjing, China - To enhance production and supply in the Chinese market glassonweb.com
Date: 7 January 2015
Source: www.neg.co.jp

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