Toyo Engineering Korea awarded NEG EGKr ProjectJan. 17, 2013

Toyo Engineering Korea Limited (President&CEO, Mr. Toru Osanai) commenced Early Detailed Engineering Work from June, 2012 to manufacture glass for flat panel displays(FPDs) in Paju City, Gyeonggi, Republic of South Korea.

This project is a consolidated project betweenToyo Engineering Corporation and Toyo Engineering Korea.
The capital investment is approximately 33 billion Yen including equipment to be relocated from Japan.
Toyo-Korea’s contract is to complete detailed engineering, procurement (Utility Equipment, Main Station and others), construction and interconnection work among Main Building, Utility and Main Station. (Expected Final Contract Amount over 60 billion K-Won)

This plant is owned/will be operated by Electric Glass Korea Co., Ltd.(Investment stake 100% of NEG) which is a Subsidiary company of Nippon Electric Glass Co., Ltd. (NEG).
This Glass Plant Investment is in order to determine the most effective response to dramatically changing FPD Market in worldwide and to strengthen its glass business of NEG for FPDs.
In addition, there is an increasing necessity to respond to its customers’ needs more rapidly, through the establishment of an integrated manufacturing base in the areas where the demand is the strongest.
The targeted plan is to start its operation from September 2013.