LG Hausys, the privately held South Korean industrial materials company, announced yesterday that it will establish a joint venture with Interpane Glas Industrie AG, the privately held German flat glass processor.
The joint venture, to be named Low-E, will be established in the Ulsan province, Korea in September 2010 with a capital base of KRW 30bn (USD 25m).
The JV company will manufacture and sell functional glass used as construction materials.
LG Hausys and Interpane Glas will hold an 80% and a 20% stake in the JV.
After the JV is set up, the companies will invest additional KRW 100bn (USD 84m) to build a plant by 2011.
Source: Aving News (translated)
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