Components | August 30, 2011

GLT with IPO

Global Lighting Technologies (GLT) Inc. held an initial public offering of shares of its common stock on the TWSE on July 28, 2011. The initial public offering totaled 15.35 million shares at an initial price of NT $50 ($1.767 USD).
Headquartered in Chung-Li, Taiwan, Global Lighting Technologies (GLT) Inc. was established in 2000 by combining the manufacturing assets of Shanghai Shinny Electronic Technology Corporation Ltd. and Suzhou Shinny Plastics Co. Ltd. with the Solid State Research and Development arm of Lumitex, Inc., an American lighting technology company based in the Cleveland, Ohio area.

GLT’s U.S. R&D, engineering and sales force worked out of suburban Cleveland, eventually settling in Brecksville, OH, to develop LED-based edge lighting technology for the latest generation of flat panel displays, according to Vice President and General Manager, David DeAgazio.

GLT's clients in the device-end market include Sony, Samsung Electronics, Hitachi, and Toshiba. In 2010, GLT teamed up with notebook ODM Wistron to develop large-size LED light guide plates. The GLT-Wistron team will build five production lines for light guide plates at a plant in Guangzhou, China before the end of 2011 with a monthly capacity of 700,000-800,000 units of 40-inch equivalent light guide plates.

Including production capacity in Taiwan, GLT will be able to roll out 1.2 million light guide plates in 40-inch equivalents a month by year-end 2011. GLT has also demonstrated the capability of making light guide plates for use in LCD TVs of over 55-inches diameter, and has set up three production lines with total monthly capacity of 400,000 light guide plates for large-size LCD TVs at its factory in northern Taiwan.

In addition, GLT is establishing five more production lines at its factory in Zhongshan in southern China in August, with completion scheduled for fourth quarter 2011.

PHOTO: Beating the drum for Global Lighting Technologies’ initial public offering are, from left to right: Mark Wei, Chairman of KGI Securities; C.L. Wang, General Manager of GLT; Mang-Shiang Lee, Chairman of GLT; and Dr. Chi Schive, Chairman of the TWSE.


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