BOE Announces 6G TFT-LCD Venture in Hefei, Anhui Province
October 26, 2008
Beijing-based panel maker BOE Technology Group announced on October 20 a joint venture for 6G TFT-LCD (Thin Film Transistor Liquid Crystal Display) panel production in Hefei, Anhui Province, China Securities Journal reported.
As per the agreement signed in September 2008, BOE, Hefei Construction Investment and Holding, and Hefei Xincheng State-owned Assets Management will invest 9.5 million RMB (US$1.39 million; US$1=6.85RMB), 25.5 million RMB (US$3.72 million), and 15.0 RMB (US$2.19 million), respectively, in the venture. In addition to holding a 19% stake, BOE is entitled to make additional investments in the venture, while the two other partners relinquish such claims.
Construction on the project is expected to start in the first quarter of 2009, with commencement of production slated for the fourth quarter of 2010. Production capacity is estimated at 90,000 6G TFT-LCD panels per month, according to Sina News.