China's largest television tube maker, the Anfei Electronic Glass Co., began operations on Monday in Zhengzhou, capital city of central China's Henan Province.
The company is a Sino-foreign joint venture. The Ancai Group in Henan Province, China's largest glass tube manufacturer, holds 66 percent of the stake, the Huafei Color Display System Co. has 20 percent, while Netherlands-based electronics giant LG-Philips has 14 percent.
The new company has four production lines with a designed annual output of 2 million flat television screens and 4.68 million tapered tubes.
Its main products are tubes with a screen size from 29 inches to 36 inches. All products are expected to be sold to LG-Philips affiliates around the world.
Li Liu'en, president of the Ancai Group, said operating the new company paved the way for future cooperation with LG-Philips in building overseas branches. Ancai generated 5.1 billion yuan (US$614 million) in industrial output value last year, and ranks as the world's fourth largest glass tube maker.
(Xinhua News Agency November 20, 2002)
