Wednesday, March 26, 2003
NEC and SVA signed an agreement to form an LCD company in Shanghai, China, in June 2003, of which SVA is to own 75 percent and NEC is to own 25 percent.
NEC also said that from April 2003, it would separate its LCD business and establish a new company called NEC LCD Technologies Ltd. that is intended to concentrate on advanced displays while mainstream product development, production and sales are to be conducted through the as yet un-named joint venture company in China.
The joint venture company plans to spend about $700 million to build a factory for thin-film-transistor LCDs for PCs, monitors and televisions. The manufacturing capacity is to be 45,000 glass sheets per month with a sheet size of 1.1 meters by 1.3 meters.
The company is set to concentrate on the China domestic market as its primary sales target, the companies said. The facility is planned to employ 1200 staff initially and begin operations in October 2004.
By: DocMemory
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