Nippon Electric Glass Co. Ltd., a leading Japanese manufacturer of specialty glass for flat panel displays, has agreed to invest 70 billion yen (US$681.68 million) to set up an LCD (liquid crystal display) factory in Xiamen, its first 8.5-generation plant outside Japan, National Business Daily reported Tuesday. Construction is scheduled to begin in September and the plant will be operational in the fourth quarter of 2015. Domestic demand for 8.5-generation LCD panels has been growing rapidly, with local players such as, BOE Technology Group Co. Ltd. (000725.CN) and China Star Optoelectronics Technology Co Ltd., a business unit of TCL Corp. (000100.CN), reporting stellar profits recently. Nippon Electric Glass is among the world’s top three LCD panel makers, commanding 20 percent of the the global market, the report said.
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