NEG, Sumitomo, SVA to Set Up LCD Substrate JV in Shanghai
June 01, 2006
Japanese NEG (Nippon Electric Glass) and Sumitomo announced on May 26 that they have planned to set up a LCD substrate joint venture in Shanghai next month with Chinese SVA. 65% of the venture company will be owned by NEG, 15% by Sumitomo and 20% by SVA. The companies plan to invest five billion Yen to build a plant in Shanghai, which is expected to have initial monthly capacity of 140,000 units and will begin production in the third quarter of 2007.