G-Tech Takes Part in Glasstec 2012 in Dusseldorf, Germany

Taipei, Oct.25, 2012 (CENS)--G-Tech Optoelectronics Corp., a glass-processor and affiliate of Hon Hai Group, aims to expand into the automotive, having recently attended Glasstec 2012 in Düsseldorf, Germany, showcasing its 2D and 3D glass-processing technology and will cooperate with automobile vendors, submitting samples for certification, and is likely to start small volume shipments in 2013.

To enhance cooperation with European automobile customers, G-Tech attended Glasstec the first time, displaying glass-processing technologies including the world's largest 6-generation thin-toughened glass, ultrathin CNC drilling processing, 2D/3D glass insert molding, one-piece glass solution with touch and protective integration, 3D formed glass for cellphone, tablet PC, and automotive components.

After expanding into 3D formed glass production in 2011, G-Tech has completed the first production line and begun trial production and proofing for customers, also expected to expand capacity to 200,000 pieces monthly in the first phase, mainly for brand vendors.

In addition to touch and case applications, with growing amount of protective-glass applications for portable devices, all-in-one PCs, and LCD TVs, glass surface processing technology is getting more important, for which G-Tech will showcase AR (anti-reflective), AS (anti-smudge), and AG (anti-glare) technologies made by vacuum sputtering processing.

Due to delayed shipments of AR coated glass and protective glass for iPad mini, G-Tech's operation in the first half did not meet expectation, with consolidated revenues growing 12% to NT$3.384 billion (US$112.8 million) from a year earlier, NT$421 million (US$14.03 million) in operation profits and NT$356 million (US$11.87 million) in net profits, NT$1.53 (US$0.051) in EPS (earnings per share). Due to massive shipments for iPad mini in September, the firm's revenues in the month soared 47% month on month to NT$1.039 billion (US$34.63 million), with revenues in the third quarter of NT$2.35 billion (US$78.3 million), up 26% comparing to the previous quarter. A market source predicts G-Tech to maintain double-digit revenue growth in the fourth quarter.