BOE 2 billion will be raised to build second panel production line

Chinese, BOE Technology Group will invest $2 billion to build second liquid crystal display (LCD) panel production line, is also considering overseas listing to raise funds. Chinese, two manufacturers for the production of thin film transistor LCD TV and computer display (TFT-LCD), BOE is one of them. Due to the rapid expansion of the joint venture between Japan's third largest electrical group NEC and Shanghai radio and Television Group (SVA), BOE has struggled to catch up. Chairman Wang Dongsheng told Reuters: "we are under great pressure, to find funding for the expansion. We want to spend $2 billion to build second production lines in 2007. That's why we're considering raising funds overseas." The global LCD market size $50 billion, currently by Samsung Electronics and PHILPS LG LCD led the two master 1/5 of the market, the BOE and NEC and SVA joint venture, want to share.

NEC and SVA is expected to expand in June 2006 after the first production line in Shanghai, the establishment of second production lines, the use of the new sixth or seventh generation technology, allowing manufacturers to produce a larger size of the panel. Flat panel display department BOE 2002 costing over $380 million to buy the South Korean Hynix semiconductor company, set up its own LCD production line. BOE for $135 million to buy 26% stake, becoming Hongkong and Singapore listed AOC technology company (TPV Technol-ogy) a major shareholder of AOC is the world's largest manufacturer of computer screen. BOE maintain flat in the Shenzhen listed shares of 17 closing, as the performance of the market rose 0.4%.