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Konica Minolta to spend $118 mln on LCD film plant
TOKYO, April 06 – Konica Minolta Holdings Inc said on Friday it will invest about 14 billion yen ($118 million)to build a fifth factory for a type of optical film used to make liquid crystal displays to meet surging demand for LCD TVs.
The news helped shares in Konica Minolta rise 1.9 percent to 1,530 yen by midday, compared with a slight fall in the broad market.The Tokyo-based company plans to start the factory for triacetyl cellulose (TAC) film in Kobe, western Japan, in autumn 2007, aiming to boost output by 50 million square metres to 170 million square metres.Konica Minolta, which sees the TAC film market growing 30-40 percent a year, plans to raise its TAC film sales to 46 billion yen in the year ending March 2009 from about 30 billion yen estimated for the year ended in March 2006.Konica Minolta has about a 20 percent market share in the TAC film business, while Fuji Photo Film Co. Ltd. controls the rest
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