Schott Invests 195 Million Dollars in Market for TFT- LCD Glass Substrates
Schott AG is expanding its activities in the market for flat panel displays. The technology company is investing 195 million dollars (150 million euros) in its melting and processing capacity for TFT-LCD glass (Thin Film Transistor-Liquid Crystal Display) for flat panel displays.
In Seoul, South Korea, Schott entered a joint venture for the processing of large format TFT-LCD glass substrates with Kuramoto Seisakusho Co. Ltd., based in Japan's Miyagi prefecture. Schott holds 75 percent of the shares of SCHOTT KURAMOTO Processing Korea Co. Ltd. and will supply the newly formed company with large format glass substrates of generation five and upwards. Kuramoto will contribute its processing know-how and owns the remaining 25 percent share.
The new 115 million dollar (90 million euro) plant is to be located approximately 70 kilometers south of Seoul in Chungcheongbuk-do Ochang Science Park. The joint venture will create approximately 350 jobs by the time volume production begins at the end of 2006. The company will serve panel and television manufacturers, all of whom are located in Asia.
Schott is also stepping up its melting capacity for alkali-free thin glass substrates of the seventh and eighth generations with the constructing of a new TFT melting tank, to be built in Jena, Germany, where Schott already operates one TFT tank. Construction of the 80 million dollar tank (60 million euros) will begin in February, with ramp-up planned for the end of 2006. The new tank will create 100 new jobs in Jena and will more than double the company's melting capacity for the 0.7 millimeter thick TFT substrates.
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