Linde to Increase Capacity of Samsung Display On-Site Facility in South Korea

Rhea-AI Summary

Linde (NYSE:LIN) announced an expansion of its on-site facility in Tangjeong, South Korea, to enhance the supply of high-purity industrial gases to Samsung Display. This initiative aligns with Samsung's multi-billion-dollar investment to shift its production from LCD to OLED technology, driven by increasing global demand. Linde will construct a new SPECTRA plant capable of producing over 2,000 tons per day of high-purity nitrogen, essential for Samsung's manufacturing processes. With an estimated investment of $100 million, the facility is expected to commence operations by late 2024. This expansion not only solidifies Linde's longstanding partnership with Samsung but also boosts the company's capacity to meet the rising demand for industrial gases in South Korea's electronics sector.

Positive

• Expansion of high-purity gas capacity supports Samsung Display's shift to OLED technology.
• Investment of approximately $100 million reflects confidence in the growth of the electronics market.
• New plant expected to produce over 2,000 tons of nitrogen per day, enhancing supply reliability.

Negative

• None.

WOKING, UK / ACCESSWIRE / April 19, 2023 / Linde (NYSE:LIN) announced today that it will expand the capacity of its on-site facility in Tangjeong, South Korea, to increase its supply of high-purity industrial gases to Samsung Display.

The increased capacity supports Samsung Display's planned multi-billion-dollar investment to convert its existing LCD production line to OLED, in response to global market demand. OLEDs are used in a variety of products including smartphones, virtual reality headsets and laptops.

Linde will build, own and operate a state-of-the-art SPECTRA plant to produce more than 2,000 tons per day of high-purity nitrogen. The nitrogen will be used for cooling and purging applications in Samsung Display's manufacturing process.

The new plant will expand Linde's existing complex at Tangjeong, which already supplies industrial gases to Samsung Display and currently comprises four air separation units, plus associated pipeline network and infrastructure. In addition to supplying Samsung Display, the plant will supply the local merchant market, plus crude rare gases to Linde's new purification facility in nearby Hyungok. Linde's investment is expected to be approximately $100 million, and the new plant is planned to start up towards the end of 2024.

"We have safely and reliably supplied nitrogen, oxygen, argon, helium and other gases to Samsung Display for 20 years and are proud to have been chosen to support this important new investment," said B.S. Sung, General Manager South Korea, Linde. "In addition to supplying a major electronics customer, our new capacity in Tangjeong will further increase Linde's network density in the region, enhancing our ability to meet demand for industrial gases from the growing electronics market in South Korea."

About Linde

Linde is a leading global industrial gases and engineering company with 2022 sales of $33 billion. We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain, decarbonize and protect our planet.

The company serves a variety of end markets such as chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases and technologies are used in countless applications including production of clean hydrogen and carbon capture systems critical to the energy transition, life-saving medical oxygen and high-purity & specialty gases for electronics. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.

For more information about the company and its products and services, please visit www.linde.com

Contacts:
Investor Relations Juan Pelaez Phone: +1 203 837 2213 Email: juan.pelaez@linde.com	Media Relations Anna Davies Phone: +44 1483 244705 Email: anna.davies@linde.com

SOURCE: Linde plc

View source version on accesswire.com:
https://www.accesswire.com/750089/Linde-to-Increase-Capacity-of-Samsung-Display-On-Site-Facility-in-South-Korea

FAQ

What is Linde's recent investment in South Korea about?

Linde is expanding its facility in Tangjeong, South Korea, to increase the supply of high-purity gases for Samsung Display's conversion from LCD to OLED.

When is Linde's new nitrogen plant expected to start operations?

The new nitrogen plant is planned to commence operations towards the end of 2024.

How much is Linde investing in the new facility for Samsung Display?

Linde's investment in the new facility is estimated to be approximately $100 million.

What capacity will the new SPECTRA plant have?

The new SPECTRA plant will have the capacity to produce more than 2,000 tons per day of high-purity nitrogen.

What is the significance of Linde's expansion for Samsung Display?

Linde's expansion supports Samsung Display's major investment in OLED technology, which is crucial for meeting global market demands.