Vedanta Limited Foresees Tenfold Growth in Display Glass Business

Vedanta Limited anticipates substantial growth in its display glass business, expecting a tenfold increase after consolidating its stake in AvanStrate Inc. to 98%. The company plans to drive innovation in high-tech display manufacturing, expanding its R&D capabilities and production capacity to meet rising global demand.

Vedanta Limited announced on Wednesday that its display glass business is projected to expand tenfold, following the consolidation of its holding in AvanStrate Inc.

Earlier this year, Vedanta Ltd acquired an additional 46.57% stake in AvanStrate Inc., thereby increasing its total holding in the Japanese display glass manufacturer to roughly 98%. ASI is now fully governed by Vedanta Limited and is currently free from external debt, as per the corporate release.

The release highlighted that ASI is poised to pioneer advancements and broaden its high-tech display and glass substrate manufacturing. It aims to fortify its place in the global electronics and display industry by enhancing its R&D capabilities, innovating advanced technologies, and boosting production capacity to meet the surging global demand.

With production units in Taiwan and Korea, and its R&D and headquarters in Tokyo, Japan, AvanStrate Inc. is renowned for its state-of-the-art Gen 4 to Gen 8 TFT LCD glass substrates, crucial for the production of electronic displays in devices like televisions, smartphones, tablets, laptops, and wearables.

(With inputs from agencies.)