Nippon Electric Glass Pulls Out Of Uk Joint Venture

Nippon Electric Glass has withdrawn from a proposed operation with a German partner to produce glass for cathode ray tubes in the UK stating that this was due to a wait of more than a year since an application for a joint venture was submitted to the EU. The company will push ahead with operations on its own. The German interest had taken 25% equity in Ocean Technical Glass, a wholly-owned subsidiary set up by Nippon Electric Glass in January 1995. According to the Japanese company, it holds a 34% slice of the pie in the European market for CRT glass. Its would-be partner has a 44% share. Furthermore, Nippon Electric Glass has developed glass with a low melting point that can directly seal ceramic bases and lits at low temperatures.