Samsung, Asahi Constructing Crt Plant

Samsung Corning Co Ltd., and Japan's Asahi Glass are joining together to construct a $340m cathode ray tube manufacturing plant in Baja California, Mexico, inside the Maquiladorian free trade area. The facility is expected to produce approximately 9m CRTs a year for American, Japanse and Korean manufacturers in North America. Called Video Monitors de Mexico, the joint venture was established to meet increasing global demands for colour tv and computer monitors. Samsung and Asahi will each invest 44% in the venture, with Corning investing the remaining 12%; the former two will manage operations. VMM will begin construction of the plant late '97 with initial production in mid-1998.