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Biz News Korea(Eng)
Shinsung FA signs contract with BOE to supply LCD manufacturing equipments
- Collected
- 2016.11.17
- Distributed
- 2016.11.21
- Source
- Go Direct
Since BOE last year decided to invest about 40 billion yuan ($5.8 billion) to set up a 10.5-generation LCD production line in Hefei, the capital of Anhui Province in China, local companies have been scrambling to capitalize on the facility upgrade.
Shinsung FA has signed a combined 521.6 billion won worth contracts with overseas companies since 2014, of which it clinched 286.1 billion won worth deals this year alone, exceeding its sales of 187.1 billion won last year. When including small-sized contracts that are not subjected to filing, the company expects to generate its best-ever earnings and exports at the same time this year.
The company has been making extra efforts to expand its presence in the global market, especially in China where it established its branch office in Suzhou, Jiangsu Province in August this year. “We expect more demand as China continues to up investment in panel market,” said an unnamed official at the company. “We will work hard to perform better not only in the LCD market but also in the organic light emitting diode (OLED) and chip markets,” he added.
Shares of Shinsung FA closed Tuesday at 4,200 won, up 2.94 percent or 120 won from the previous session.
By Lee Young-wook
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]