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TCL to invest US$100m in Korean materials maker Sangbo
By Korea HeraldPublished : July 6, 2016 - 16:08
[THE INVESTOR] China’s TCL has decided to invest US$100 million in Korean parts and materials maker Sangbo.
The two companies signed an agreement for the investment in Seoul on July 5. TCL’s chairman Li Dongsheng also attended the signing event during his recent visit to Korea.
This is a large funding for Sangbo that has a market value of about 112.6 billion won (US$96 million) based on its stock price.
Sangbo currently supplies optical films to Chinese TV makers, including TCL. It operates six production lines in China alone.
“With the latest investment, we will diversify display materials products and secure a global sales network,” a Sangbo official said.
More recently, the company has also secured orders for quantum-dot films, an upgraded liquid-crystal display technology, from a Chinese TV maker. The first batch of films for some 3,000 TV sets will be shipped from this month.
By Lee Ji-yoon (jylee@heraldcorp.com)
The two companies signed an agreement for the investment in Seoul on July 5. TCL’s chairman Li Dongsheng also attended the signing event during his recent visit to Korea.
This is a large funding for Sangbo that has a market value of about 112.6 billion won (US$96 million) based on its stock price.
Sangbo currently supplies optical films to Chinese TV makers, including TCL. It operates six production lines in China alone.
“With the latest investment, we will diversify display materials products and secure a global sales network,” a Sangbo official said.
More recently, the company has also secured orders for quantum-dot films, an upgraded liquid-crystal display technology, from a Chinese TV maker. The first batch of films for some 3,000 TV sets will be shipped from this month.
By Lee Ji-yoon (jylee@heraldcorp.com)
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Articles by Korea Herald
