NSG will halt LCD glass production

Nippon Sheet Glass (NSG) has announced that it will cease production of liquid crystal display (LCD) glass substrates for television panels by selling its entire stake in a joint venture with Hoya to a US buyout fund.

Optical glassmaker Hoya will sell a small portion of its stake in NH Techno Glass to the Carlyle Group, while retaining the rest of its shares.

The purchase of NSG’s stake is expected to cost the US fund between 100 and 150 billion yen. Following this planned withdrawal, NSG reportedly intends to concentrate its resources on it core automotive glass business.

Source: Glass International
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