Nh Techno Glass To Go Public In 2010

Hoya Corp & Nippon Sheet Glass Co. have unveiled plans for a stock market listing of their LCD glass substrate joint venture, NH Techno Glass Corp., in 2010. The proceeds from the listing will go into new manufacturing lines & other capital investments. NH Techno was set up in 1991 as a 50-50 joint venture between Hoya & Nippon Sheet, with each investing JPY 1.5BN. The firm recorded approximately JPY 30BN in consolidated sales & a JPY 2.5BN net profit in the year through March 2006. The company has plants in Japan, Singapore, Taiwan & South Korea. It ranks fourth in the world with 5% of the global market, behind leader Corning Inc., Asahi Glass Co. & Nippon Electric Glass Co.