Global Lighting Technologies Inc, Launches Initial Public Offering On Taiwan Stock Exchange
Global Lighting Technologies Inc., the specialist in LED-based edge-lit illumination, held an initial public offering of shares of its common stock on the Taiwan Stock Exchange on July 28, 2011 (symbol: GLT). The initial public offering totaled 15.35 million shares at an initial price of NT $50 ($1.767 USD). The IPO was presided over by GLT’s Chairman, Mang-Shiang Lee, General Manager C.L. Wang, and Vice President Johnny Tsai. GLT posted revenues of NT $3.08 billion (US $106.94 million) with net profits of NT $256 million or an EPS of NT $2.39 for 2010, according to the company.Headquartered in Chung-Li, Taiwan, Global Lighting Technologies 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 now offers the world’s most efficient LED-based edge lighting technology as well as advanced light extraction technologies and improved manufacturing processes to provide the slimmest, most efficient and cost-effective light guides used in LED backlight units (BLUs) for flat panel displays, LED illuminated keyboards and indoor lighting products as well as solutions for a wide range of general illumination applications. With four manufacturing facilities in the Far East, GLT is poised to deliver a superior illumination solution at a lower cost with faster turnaround.
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.