Shanghai Asahi Electronic Glass has obtained a loan worth 300m Yuan from a bank consortium consisting of the Bank of China, Industrial & Commercial Bank of China, Pudong Development Bank and East Asia Bank. Taken mainly for the purpose of expanding production capacity, the three year loan will support the company's venture into large-size TV glass production. In advance of securing the loan, part of the finance had already been used to start installing a new production line that will produce 1.2m pieces per annum of 29 inch panels. The balance of the loan will be used for further expansion later in the year, according to a company spokesperson. The company currently has the facility to produce 7.5m pieces/annum of panels and 10m pieces of funnels, each measuring 20 inches wide.
