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On August 31, the Japan-based company inked a cooperation agreement with China Electronics Corporation (CEC) and the municipal government of Nanjing on the establishment of an 8G LCD panel production line, a Sharp global LCD R&D center, as well as a 6G LCD panel production line in the eastern Chinese city.
Under the agreement, Sharp will work together with state-owned CEC and a CEC unit in Nanjing to set up a joint venture for the construction of the planned CNY 30 billion 8G LCD panel plant in the city. The production line is projected to make 90,000 pieces of glass substrate a month after starting mass production in 2012.
In addition, the Japanese LCD panel maker is about to set up a global LCD R&D center in the city. The center, scheduled to come into use in 2010, will hire more than 1,000 talents for the R&D of LCD panels, LCD modules, and LCD TVs.
As part of the deal, Sharp will sell the production facilities in its production-suspended 6G LCD panel plant, coupled with production expertise and technique, to the Chinese city, a move widely considered as the Japanese company's step to phase out outdated production capacity. Located in Kameyama, Japan, the 6G production line produced small- and medium-sized LCD panels, products that are outdated nowadays as big-sized screens are winning increasing favor in the LCD market.
With a total investment of CNY 13.8 billion, the 6G LCD panel production line will be capable of making 80,000 pieces of glass substrate each month. The project is scheduled to break earth in the middle of September, come into shape by the end of 2010, and kick off production before March 2011.
To smooth the project, the municipal government of Nanjing is to form a LCD panel joint venture with the CEC Nanjing unit. Sharp, on the other hand, will help the venture boost the project.
Sharp's negotiation with the Nanjing government on the 6G line disposal came after its talks with several companies ended up with disagreement, according to people in the know. Before turning to Nanjing, the Japanese company had entered into talks with SVA (Group) Co., Ltd., IRICO Group Electronics Company Limited, and the municipal government of Shenzhen.
(USD 1 = CNY 6.83)
Source: dycj.ynet.com (September 01, 2009)
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