Bangkok--29 Aug--Chai PR
TCL China has lent its full support to the group’s subsidiary in entering into a 1,550 million dollar deal to build a new 8.5 generation LCD panel production plant. With its monthly production capacity of over 100,000 units, or 3 billion US dollars’ worth of products per year, the new plant is expected to help propel TCL’s global brand value to the top 5.
Mr. Harry Wu, Managing Director of TCL Electronics (Thailand), revealed that in early August Huaxing Electric, a subsidiary of TCL China, has entered into an joint venture agreement with Senshao Electronics Technology and Korea’s Samsung Electric to build a new 8.5 generation LCD panel production line, with a registered capital of 1,550 million dollars. TCL holds 55% shares of the new facility while Senshao and Samsung own the remaining 30% and 15% shares respectively. The plant will have its inaugural operation in October and will operate to its full capacity by late 2012.
“In 2012, TCL has plans to design the manufacturing line to support the production of over 100,000 units of 26 — 32”, 46”, and 55” LCD panels per month. Collectively, the facility has the production capacity of more than 17.5 units per year, which is approximately 3 billion US dollars’ worth of products.”
Mr. Wu added that currently there are only 8 production bases in the world with the capacity to produce 8 generation and higher LCD panel in operation. There are 2 of Samsung and one of LG in Korea, one of SHARP in Japan, one each of AUO and CMO in Taiwan, plus one each of BOE and TCL in mainland China. Only 4 in the list, namely Samsung, LG, SHARP, and TCL, have the capacity to facilitate the production of complete LCD TV sets.
“Our manufacturing facility in China will manage and control the full-scale operation of the whole production line, from primary to tertiary levels. This helps to increase the production capacity and gives us an advantage in the competition for market shares. It is also the reason behind TCL’s rapid growth and success. We are confident that this development will soon lead to our ranking as a top 5 global brand.
“Recently, many technological and electrical components companies have gone out of business. Some had to lay off employees, halt expansion plans, and cut down research and development budget, in order to cope with worldwide economic downturn. TCL, on the contrary, sees this crisis as an opportunity and we will definitely use it to charge ahead of the competition,” Mr. Wu concluded.
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