May 20,
2003
Asahi Kasei Corporation
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| Establishment of joint venture in Korea for acrylic sheet for light-guide panels |
Asahi Kasei Corporation,
Raygen Co., Ltd., and Samsung Corporation concluded an
agreement on May 18 for the establishment of a joint-venture
company in Pyongtaek, Kyeonggi-do, Korea for the production
and sale of acrylic sheet for light-guide panels.
Light-guide panels are used in the
backlight units of liquid crystal displays, and Asahi
Kasei presently produces
Delaglas™ acrylic sheet for light-guide panels in
Japan. With a large share of the growing market for light-guide
panels centered in Korea, it was determined that Korea
would be the ideal location for additional production capacity.
The new joint venture will draw on the strengths of LCD
backlight unit maker Raygen and Korea’s largest trading
company Samsung, combined with Asahi Kasei technology for
extrusion of acrylic sheet for light-guide panels.
Profile of the new joint venture
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Name: |
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Delaglas Korea Corporation |
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Paid-in capital: |
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|
5 billion won |
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Shareholding: |
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Asahi Kasei, 60%; Raygen, 30%; Samsung,
10% |
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Chairman and President: |
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|
To be appointed by Asahi Kasei and Raygen |
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Location: |
| |
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Pyongtaek, Kyeonggi-do, Korea |
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Production capacity: |
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|
6000 tons/year extruded acrylic sheet |
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Scheduled start-up: |
| |
|
October 2003 |
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Investment: |
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|
Approximately 10 billion won |
Profiles of parent companies
| |
Asahi Kasei Corporation |
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Head office: |
| |
|
Tokyo, Japan |
| |
President: |
| |
|
Shiro Hiruta |
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Paid-in capital: |
| |
|
¥103.4 billion (at fiscal
year-end, March 31, 2003) |
| |
Net sales: |
| |
|
¥1,193.6 billion (fiscal 2002) |
| |
Raygen Co., Ltd. |
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Head office: |
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Chilgok-kun, Kyeongsangbuk-do, Korea |
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CEO: |
| |
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Sung-Gil Tae |
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Paid-in capital: |
| |
|
5.4 billion won (at fiscal year-end, December
31, 2002) |
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Net sales: |
| |
|
62.0 billion won (fiscal 2002) |
| |
Samsung Corporation |
| |
Head office: |
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|
Chung-ku, Seoul, Korea |
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President & CEO: |
| |
|
Chong-Yeul Pae |
| |
Paid-in capital: |
| |
|
800 billion won (at fiscal year-end, December
31, 2002) |
| |
Net sales: |
| |
|
36,916.8 billion won (fiscal 2002) |
Delaglas
is a trademark of Asahi Kasei Corporation.
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