BASF picks S Korea plastics for first Asia venture capital

30 October 2003 11:03  [Source: ICIS news]

LONDON (CNI)--BASF Venture Capital’s (BVC) first foray into Asia will take it into the all-plastic display market.

 

The German chemical firm’s venture capital arm said Thursday it will provide Euro2.5m ($2.9m) of venture capital for South Korean company I-Component together with a local investor, STIC Ventures of Seoul.

 

The investment will help I-Components develop new carrier films including a transparent plastic film for carrying liquid crystal displays (LCDs) which would replace the glass normally used.

 

“The goal is to launch the optical plastic films in the next two years,” said Matthias Baum, investment manager at BVC.

 

“These films have the advantage of being flexible, unbreakable and light and

will lead to substantially lower production costs for the displays of the future,” he added.

 

BASF estimates the entire market volume for LCDs is worth $24bn this year.

 

I-Components produces high-quality plastic films for a variety of applications in the electronics and motor industries. The company supplies the Asian market with plastic films for mobile electronic devices.

By: Glenda Thisdell
+44 20 8652 3214

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