Vedanta's Display Glass Biz to Grow 10x with AvanStrate Inc
By Rediff Money Desk, New Delhi Sep 04, 2024 20:46
Vedanta Limited's display glass business is set to grow 10-fold after consolidating its holding in AvanStrate Inc. to 98%. The acquisition will drive innovation and expansion in high-tech display and glass substrate manufacturing.
New Delhi, Sep 4 (PTI) Vedanta Limited on Wednesday said its display glass business is expected to grow 10-fold, following the consolidation of its holding in AvanStrate Inc.
Vedanta Ltd, in May this year, announced the acquisition of an additional 46.57 per cent stake in AvanStrate Inc, taking its total holding in the Japanese display glass manufacturer to about 98 per cent.
ASI is now fully managed and controlled by Vedanta Limited and free from any external debt, according to a release.
"Vedanta Limited announced that the display glass business is set to grow 10x after consolidating its holding in AvanStrate Inc. (ASI), a Japanese display glass manufacturer, to 98 per cent, following the acquisition of 46.57 per cent equity from Hoya Corporation," the release said.
According to the release, ASI is set to drive innovation and expansion, focusing on the future of high-tech display and glass substrate manufacturing.
ASI, the release further said, is well-positioned to strengthen its role in the global electronics and display industry by enhancing its R&D capabilities, developing advanced technologies and expanding its production capacity to meet increasing global demand.
"With production facilities in Taiwan and Korea, and R&D and headquarters in Tokyo, Japan, AvanStrate Inc. has long been recognised for its cutting-edge production grade Gen 4 to Gen 8 TFT LCD (thin-film-transistor liquid-crystal display) glass substrates, which are integral to the production of electronic displays used in televisions, smartphones, tablets, laptops, and wearables," the release said, adding that with an over 700 patents AvanStrate has established itself as a global leader in display technology.
Vedanta Ltd, in May this year, announced the acquisition of an additional 46.57 per cent stake in AvanStrate Inc, taking its total holding in the Japanese display glass manufacturer to about 98 per cent.
ASI is now fully managed and controlled by Vedanta Limited and free from any external debt, according to a release.
"Vedanta Limited announced that the display glass business is set to grow 10x after consolidating its holding in AvanStrate Inc. (ASI), a Japanese display glass manufacturer, to 98 per cent, following the acquisition of 46.57 per cent equity from Hoya Corporation," the release said.
According to the release, ASI is set to drive innovation and expansion, focusing on the future of high-tech display and glass substrate manufacturing.
ASI, the release further said, is well-positioned to strengthen its role in the global electronics and display industry by enhancing its R&D capabilities, developing advanced technologies and expanding its production capacity to meet increasing global demand.
"With production facilities in Taiwan and Korea, and R&D and headquarters in Tokyo, Japan, AvanStrate Inc. has long been recognised for its cutting-edge production grade Gen 4 to Gen 8 TFT LCD (thin-film-transistor liquid-crystal display) glass substrates, which are integral to the production of electronic displays used in televisions, smartphones, tablets, laptops, and wearables," the release said, adding that with an over 700 patents AvanStrate has established itself as a global leader in display technology.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.59 ( -1.15)
- 48988527
- Axita Cotton
- 22.67 ( -5.74)
- 29420018
- Vodafone Idea L
- 14.83 ( -1.85)
- 29110630
- Rajnish Wellness
- 3.84 ( -4.95)
- 28481388
- Rama Steel Tubes
- 11.59 (+ 10.17)
- 18767890
MORE NEWS
![Canara Bank...](https://im.rediff.com/80-80/money/2016/mar/28bank.jpg)
Canara Bank Raises USD 300 Million via IFSC Unit
Canara Bank successfully raises USD 300 million through its International Financial...
![India Beauty &...](https://im.rediff.com/80-80/money/2017/jul/03nykaa4.jpg)
India Beauty & Personal Care Market to Reach...
India's beauty and personal care market is projected to reach $34 billion by 2028,...
Sebi Denies Toxic Work Culture Claims, Calls...
Sebi has refuted claims of a toxic work environment, stating that they are misplaced...