Paju Electric Glass, which is 40% owned by LG.Philips LCD and 60% owned by Nippon Electric Glass, was incorporated in March of this year with initial paid in capital of KRW 36 billion.
The plant is scheduled to commence production in the first half of 2006, with one production line and a design input capacity of 60,000 sheets. However, capacity could increase with the addition of further lines depending on market demand.
Paju Electric Glass will provide "P7," LG.Philips LCD's Gen 7 factory that is set to begin mass production in the first half of 2006, with a stable supply of glass substrates, a core component of LCD panels. Meanwhile, Nippon Electric Glass will benefit from stable demand for its glass products.
Commenting on the groundbreaking ceremony, Vice President Gye-Jin Bang of Paju Electric Glass said "We take great pride in becoming part of the world's largest display cluster. We are determined to do our best to maximize the positive impact of this win-win partnership between LG.Philips LCD and Nippon Electric Glass."
The ceremony, which was held at Dangdong district, one of two industrial parks being constructed for LG.Philips LCD's suppliers as part of the Paju Display Cluster in Gyeonggi Province, Korea, was attended by President Ando Masaaki of Paju Electric Glass, LG.Philips LCD Vice Chairman and CEO Bon Joon Koo and other LG.Philips LCD executives, as well as by President Yuzo Izutsu and other executives from Nippon Electric Glass (NEG), Governor Hak-Kyu Sohn of Gyeonggi Province and Mayor Hwa-Sun Ryoo of Paju City.
1. NEG (Nippon Electric Glass)
Established in 1949, NEG is a world-class producer of glass products for displays and one of the global top three manufacturers of TFT-LCD input glass. NEG supplies 15% of the glass substrates that companies use at their fifth and sixth generation TFT-LCD fabrication plants worldwide.
2. PEG (Paju Electric Glass Co., Ltd.)
PEG, a back-end polisher and processor of TFT-LCD input glass is a 40% to 60% joint venture between LG.Philips LCD and Nippon Electric Glass (NEG), respectively, was incorporated in March of 2005 with initial paid-in capital of KRW 36 billion. PEG obtained investment approval from Gyeonggi Province, Korea, in June 2005, and is scheduled to commence production in the first half of 2006.
About LG.Philips LCD
LG.Philips LCD (NYSE:LPL, KRX:034220) is a leading manufacturer and supplier of thin film transistor liquid crystal display (TFT-LCD) panels. The Company manufactures TFT-LCD panels in a wide range of sizes and specifications primarily for use in notebook computers, desktop monitors and televisions. Headquartered in Seoul, South Korea, LG.Philips LCD currently operates six fabrication facilities in Korea and has approximately 15,000 employees in locations around the world.
For more information about the Company, please visit http://www.lgphilips-lcd.com.
LG.Philips LCD makes "Technology you can see!"
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