Asahi Glass to Build Glass Substrate Plant in S. Korea
By Kyodo News International, Tokyo
Feb. 5–TOKYO — Asahi Glass Co. will spend a total of 30 billion yen to build a new plant in South Korea for production of glass substrates for liquid crystal panels and expand its existing plant in Taiwan, company officials said Monday.
The new operations will get under way in South Korea this summer and in Taiwan at the year-end, boosting the Asahi Glass group’s output capacity of glass substrates by 30 percent so as to capitalize on growing demand for LCD TVs, they said.
Meanwhile, Asahi Glass said it has shut down the Cinnaminson, New Jersey, plant for flat glass production of its U.S. subsidiary AFG Industries Inc. as a step to improve its earnings in North America.
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