Shenzhen SEG Samsung Glass Co Ltd, said it will invest US$27.6M in a project to manufacture STN-ITO glass used in flat panel displays. The planned annual capacity is expected to reach 7M units, the company said. SEG Samsung intends to invest US$13M for production technology and equipment for the project from Samsung Corning Co Ltd., a joint venture between Korea's Samsung Group and US Corning Inc. Samsung Corning Investment Co Ltd., a unit of Samsung Corning Co Ltd, holds a 21.37% stake in SEG Samsung. Samsung Group has a technological cooperation agreement with SEG Samsung, but has no stake in the company. The company said project approval from shareholders is still pending. STN-ITO glass is widely used in displays for mobile phones and portable game machines. (whole item)
