Taiwan Glass to produce glass for touch panels

Taiwan-based Taiwan Glass Group is set to produce glass for touch panels due to the increasing demand for smartphones and tablet PCs.

Sales of fiber glass account for 40% of total revenues currently, however, Taiwan Glass stated the future direction of the company should be research and development of glass for high-tech products. Taiwan Glass indicated it plans to set up production facilities in Taiwan and China, aiming at the potential of the touch panel market in China.

According to Taiwan Glass, fiber glass accounts for 42% of sales, while flat glass and kitchenware related products account for 37.8% and 19.7% respectively. Taiwan Glass´ market share for panel glass is 83% currently.

Taiwan Glass plans to adjust a section of furnaces to produce fiberglass yarn used in panels for smartphones and tablet PCs during 2011.

As the market for smartphones and tablet PCs have been expanding rapidly, Taiwan Glass has been planning to expand capacity for ultra-thin glass used in touch panels in 2011. Production will begin at the end of 2012 and the price is anticipated to be more competitive than Corning and AGC Display Glass Taiwan. Taiwan Glass also stated it plans to invest US$100 million in the next three years to set up two production lines for ultra-thin glass.

Taiwan Glass has been viewed as a company with traditional management values. However, considering the economic trend of the world, the company decided to diversify product lines by entering production of glasses required by high-tech products. The latest product is the low-emissivity (low-e) glass.

With the production of new products, the performance of Taiwan Glass is expected to grow quarterly in 2011.

600450 Taiwan Glass to produce glass for touch panels glassonweb.com

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