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Asahi Glass, Mitsubishi to sell stakes in LCD panel JV
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THE ASAHI GLASS CO. and the MITSUBISHI ELECTRIC CORP. (TSE:6503) said Tuesday that they will sell their stakes in struggling LCD panel joint venture OPTREX CORP. to an investment fund for a total of Y10 million ($US87,438.71).
* In February, Optrex will increase its capital by issuing 8 billion yen in new shares to Asahi Glass and Mitsubishi Electric, which then will sell the joint venture to JAPAN INDUSTRIAL PARTNERS INC. Asahi Glass owns a 60 per cent stake in Optrex and Mitsubishi Electric the remaining 40 per cent.
* Established in 1976, Optrex produces small and midsize LCD panels, but its market share is just 1 per cent or so.
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December 28th, 2007
Source: Tradingmarkets.com |
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