Samsung Display subsidiary Samsung Corning Precision Glass Co., Ltd. sold its Gumi plant to a Chinese company.
Samsung Corning Precision Glass Co., Ltd. held a board meeting this week and decided to sell its Gumi plant to a Chinese company, according to the Electronic Times of Korea. Samsung Corning Precision Glass Co., Ltd.'s plants are mainly located in Gumi and Asan, South Korea.
The Gumi plant has been producing targets. The targets are used for thin-film coatings for thin-film transistors (TFT), LCDs, OLEDs, and touch screen panels (TSP) for display panels. Samsung Corning Precision Glass acquired the business from Samsung Corning Precision Materials in 2014.
Samsung Corning Precision Glass's Asan plant mainly produces OLED substrate glass. With the sale of the Gumi plant, Samsung Corning Precision Glass will only have the Asan plant left. An industry insider said, "Samsung Corning Precision Glass's intention to sell the Gumi plant is to focus on the OLED business."
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