LG Display forms joint venture with Taiwan firm
South Korea's LG Display, the world's second biggest maker of liquid-crystal displays (LCDs), said Monday it has established a joint venture to make televisions with Taiwan's AmTran Technology.
By Agencies |
SEOUL: South Korea's LG Display, the world's second biggest maker of liquid-crystal displays (LCDs), said Monday it has established a joint venture to make televisions with Taiwan's AmTran Technology.
A deal signed Friday set up Suzhou Raken Technology, which will be based in the Chinese city of Suzhou. LG Display said in a statement it will invest 51 percent of the initial 20 million dollars in capital.
The venture will be part of AmTran's LCD plant in the Chinese city and is expected to produce some three million LCD modules and five million LCD televisions annually starting next year, it said. The units will be supplied to LG Electronics and other companies.
"We've decided to form the joint venture as part of our overall business transformation," said Kwon Young-Soo, LG Display's chief executive, noting that the company is reviewing further partnership plans for the future.
A deal signed Friday set up Suzhou Raken Technology, which will be based in the Chinese city of Suzhou. LG Display said in a statement it will invest 51 percent of the initial 20 million dollars in capital.
The venture will be part of AmTran's LCD plant in the Chinese city and is expected to produce some three million LCD modules and five million LCD televisions annually starting next year, it said. The units will be supplied to LG Electronics and other companies.
"We've decided to form the joint venture as part of our overall business transformation," said Kwon Young-Soo, LG Display's chief executive, noting that the company is reviewing further partnership plans for the future.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
