Schott has announced that it is to launch a new plant to produce TFT-LCD glass substrates in South Korea.

The joint venture with Japan's Kuramoto firm will cost $144 million and is to be situated outside Seoul, in Ochang Science Park.

It is estimated that the plant will reach full capacity in August, by which time it will produce 40,000 units for fifth generation and 37,000 sheets of seventh generation TFT-LCD substrates every month.

The new plant, which Karl-Peter Merz, a board member at Schott, describes as the company's "biggest single investment outside Germany in terms of our LCD business", continues Schott's expansion in the region since 2005.

The German-based company, which will own 75 per cent of the plant, initially invested $195 million in the venture, for which Schott provide the raw materials for Kuramoto to process.

Since 2005, however, Schott has been followed by other western companies keen to capitalise on the booming demand for LCD in Asia.

Ÿ Adfero Ltd