Applied Vacuum Coating Technologies: Restructuring

DigiTimes reported that on 2007.10.1, Taiwan-based Applied Vacuum Coating Technologies (AVCT), an indium tin oxide (ITO) glass supplier, announced a shareholders meeting on December 5 to discuss capital reduction and fund raising.

According to Wikipedia, ITO is “a mixture of indium (III) oxide (In2O3) and tin (IV) oxide (SnO2), typically 90% In2O3, 10% SnO2 by weight. It is transparent and colorless in thin layers. Indium tin oxide’s main feature is the combination of electrical conductivity and optical transparency.” An ITO film is used to coat glass to lay circuits via photolithography for applications such as LCDs.

AVCT will reduced its capital by 64% to NT$764 million (US$23.5 million) to cover the company’s previous losses and improve its financial structure while planing to issue private placements up to 10 million shares to support capacity expansion and company operations. AVCT currently has six production lines with a utilization rate of around 90% and plans to increase monthly capacity in excess of 880,000 units in 2008, when the company hopes to turn profitable.

Source: DigiTimes

[tags]Applied Vacuum Coating Technologies, Indium Tin Oxide, ITO[/tags]

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