HannStar postponed plans for building a 6G LCD panel plant becaus...
HannStar postponed plans for building a 6G LCD panel plant because of an “uncertain industry outlook,” the company said in a filing with Taiwan Stock Exchange. As a result, HannStar will use the $179 million euro-convertible bond originally intended…
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to for the factory for “overseas materials purchases,” the company said. The convertible bond, issued in 2004, will be used for purchases in Q3, the company said. The land for the plant is being prepared and HannStar may resume plans “should demand pick up,” the filing stated. In May, HannStar switched the focus of the proposed factory to 7G from 6G with volume production to start late this year. It has already spent $303 million on the site, company officials said. HannStar currently operates 3G, 3.5G and 5G plants. HannStar earlier this week cut its proposed 2007 capital spending 17.2% to $1.5 billion. Among HannStar’s customers is a U.S. subsidiary that sells LCD TVs and monitors under the Hannspree brand.