SVA and NEG LCD Glass Joint Venture To Commence Operation Next September, Says Report

The operation of a new glass substrate plant in Shanghai, formed by Japan-based Nippon Electric Glass (NEG) and China-based SVA Group, well known for its LCD panel member Shanghai SVA-NEC Liquid Crystal Display (SVA-NEC), will kick off in September 2007, according to a report from the Chinese-language website Sina.com.

Constructing of the plant is expected to complete by May 2007 and operation will commence in September, with monthly capacity of 140,000 fifth-generation (5.5G) substrates, according to the paper, citing sources at SVA.

Light Electronics of SVA, a member of SVA Group, on May 27 signed an investment contract with NEG and Sumitomo to establish Nippon Electronic Glass (Shanghai) SVA (tentatively named), a company that specializes in the production, relevant research and sales of substrates, according to SVA Group press release.

The total investment amount of this company is US$45.5 million. NEG, Light Electronics of SVA, Sumitomo Japan and Sumitomo China hold 65%, 20%, 12.5% and 2.5%, respectively, of the company, the press release stated.

Market sources indicated that China-based BOE Optoelectronics Technology (BOE OT) procures most of its substrate need from Corning while SVA-NEC is using substrates from NEG.

Corning in November broke ground at an LCD glass facility in China. Located in the Beijing Economic Technological Development Area, the facility is expected to open in the first half of 2008, according to Corning.

600450 SVA and NEG LCD Glass Joint Venture To Commence Operation Next September, Says Report glassonweb.com

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