Samsung Corning Precision Glass said Monday that it has decided to merge with Samsung Corning, a maker of cathode-ray tube (CRT) glass. The decision comes as Samsung Corning suffers a serious business downturn due to the depressed CRT TV market.Once considered a blue chip, the CRT glass maker has undergone massive restructuring. Decreasing demand for CRT TVs worldwide and poor business performance prompted it to shut down production lines in plants in Gumi, Suwon and Germany.
Samsung Corning Precision Glass, which makes glass substrates for liquid crystal display panels, plans to foster Samsung Corning’s display parts and materials business as a core unit along with its existing LCD glass substrates business. The CRT glass business will be operated from overseas offices in markets with strong price competitiveness, such as China and Malaysia.